In a freshly published autobiography, named Ithaki, the former premier Tsipras spares no criticism while he revisits the chaotic period of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis as the finance minister largely because of the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“He was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own agenda which involved advancing Varoufakis's publications as well as testing out his economic models using the nation rather than genuinely advocating the country's economic stability.
Tsipras noted that the negotiations to stave off insolvency became “not just a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and those punishing cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Although the vote was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome then agree to a rescue deal with creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
He further wrote that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
