In a freshly published autobiography, titled Ithaki, the former leader Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
An Unconventional Choice
In Tsipras's version, he appointed the maverick economist Varoufakis to be the finance minister mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, in reality, more like a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief had his own motives which involved promoting Varoufakis's publications and experimenting with his own game theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras wrote that those discussions to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay not only Greece's future and the harsh austerity measures demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to find funds from other sources, including an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
He further claimed how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
