In a freshly published autobiography, called Ithaki, the former prime minister Tsipras does not hold back as he examines the chaotic era of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, Tsipras selected the maverick economist Varoufakis to be the treasury head mainly because of the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had his own agenda that involved promoting his books and testing out his own economic models on the nation rather than genuinely advocating its financial survival.
Tsipras wrote how those talks to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only Greece's destiny and the harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move which threw Europe into a further existential crisis.
Although the vote was won decisively by voters against austerity, Tsipras had little option to ignore the result and agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras also wrote that his aggressive approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
The retelling of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
