In a recently unveiled memoir, titled Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, Tsipras chose that maverick economist Varoufakis to be the treasury head mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed his own agenda which involved advancing his books as well as testing out his own economic models on Greece instead of genuinely advocating its financial survival.
Tsipras noted how those talks to avoid insolvency became “not just a method to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
On the line lay both the country's future but also the harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw the EU into deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
