Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras does not hold back as he revisits the chaotic period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, he chose the unorthodox economist Varoufakis as the finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda which included advancing Varoufakis's books and testing out his economic models on Greece rather than genuinely advocating the country's economic stability.
Tsipras wrote how the discussions to prevent bankruptcy became “not only a way to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece came perilously close to leaving the eurozone.
On the line lay both Greece's future but also those harsh cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result then negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
