Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, Tsipras chose the unorthodox academic Varoufakis to be the treasury head largely because of his worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis had a personal agenda which involved promoting Varoufakis's books as well as testing out his economic models using Greece rather than genuinely advocating the country's economic stability.
He wrote how the talks to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During tense discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny but also those punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the vote was won decisively by those against austerity, Tsipras was forced but to ignore the result then agree to a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal that required complex and sensitive handling.”
He also claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
This account of events has been met with fury and shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
