Within his recently unveiled autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he examines that chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, he appointed that unorthodox economist Varoufakis to be the treasury head primarily due to his global profile and his “extremely attractive” skills when it came to speaker.
“He was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had his own motives which involved advancing Varoufakis's publications as well as testing out his game theories using Greece rather than genuinely fighting for its economic stability.
He explained that the talks to avoid insolvency were “not only a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's future and those harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was won decisively by those against austerity, Tsipras had little option to reject its outcome then agree to a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive management.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
