Within his newly released memoir, called Ithaki, the former premier Tsipras pulls no punches while he examines the chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he selected the maverick academic Varoufakis as his treasury head largely due to his worldwide fame and Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, actually, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis had his own agenda that involved promoting his books and experimenting with his economic models on the nation instead of genuinely advocating the country's economic stability.
He wrote that the discussions to avoid insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny and those severe austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, a move which plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over questioning him: “Is this for real?”
Lasting Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
