In a recently unveiled memoir, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on that chaotic era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected the unorthodox economist Varoufakis as his treasury head largely because of his worldwide fame and his very persuasive skills as a speaker.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had a personal agenda which included promoting Varoufakis's publications and testing out his own theories on the nation instead of truly fighting for the country's financial survival.
Tsipras wrote that the discussions to prevent insolvency were “not only a way to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country came perilously close to leaving the eurozone.
On the line was both the country's future but also the punishing cutbacks required in return for financial aid by international creditors.
Failed Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, an action that plunged the EU into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
