In a recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the chaotic era of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his treasury head mainly due to the latter's international reputation along with his highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more like a star rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that his finance chief possessed a personal agenda that involved advancing his books as well as experimenting with his economic models using Greece rather than genuinely fighting for the country's economic stability.
Tsipras explained how those talks to avoid insolvency became “not just a method to secure a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During tense discussions, the country came perilously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a public vote, a move that plunged Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked anger along with shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
