In a freshly published autobiography, called Ithaki, the ex- premier Tsipras does not hold back while he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister primarily because of the latter's worldwide fame and Varoufakis's highly compelling skills as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief possessed his own motives which involved advancing Varoufakis's books and experimenting with his economic models using the nation instead of truly fighting for the country's financial survival.
He noted how the discussions to stave off insolvency were “not just a method to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny but also the severe austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action that threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate handling.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
This account of events has provoked anger and shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
