In a freshly published autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he examines the turbulent era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, Tsipras chose the maverick academic Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“He was, in reality, more like a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed a personal motives which involved promoting Varoufakis's publications and testing out his theories on Greece rather than truly fighting for its economic stability.
Tsipras wrote how those discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
Amid volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line was not only Greece's destiny but also the severe austerity measures demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself “unfit for a deal that required complex and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The retelling of events has been met with fury along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
