In a newly released autobiography, named Ithaki, the former premier Tsipras does not hold back while he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, he chose the unorthodox economist Varoufakis to be his treasury head largely because of the latter's global profile and Varoufakis's very persuasive skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had his own agenda which included advancing his books and testing out his own game theories using Greece instead of truly fighting for its financial survival.
Tsipras noted how the negotiations to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
On the line was not only the country's future and the harsh austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of history has been met with fury and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
