In a newly released memoir, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected that maverick economist Varoufakis as the treasury head primarily because of his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, truthfully, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had his own agenda that involved promoting Varoufakis's publications as well as testing out his own game theories on the nation instead of truly advocating its financial survival.
Tsipras noted that those talks to stave off insolvency were “not only a way of achieving improved terms for the country. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, the country found itself dangerously close to exiting the eurozone.
On the line was both Greece's future but also those punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of history has been met with fury and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
