Within his freshly published autobiography, called Ithaki, the former leader Tsipras pulls no punches while he revisits that chaotic era of Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he selected that maverick economist Varoufakis as his finance minister primarily because of the latter's global profile and his very persuasive abilities as a speaker.
“He was, truthfully, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief possessed his own agenda which included promoting Varoufakis's publications as well as experimenting with his own economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras explained that the talks to prevent insolvency were “not only a way to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake lay both the country's destiny and those severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which threw the EU into further existential crisis.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes that his former ally had proved himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The retelling of history has provoked fury and shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
