Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose that unorthodox academic Varoufakis to be the treasury head mainly because of his international reputation and Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more of a personality rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis had his own agenda which included advancing his books as well as testing out his own game theories using Greece rather than truly fighting for the country's economic stability.
He wrote how those negotiations to avoid insolvency were “not only a way of achieving improved terms for Greece. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, the country came perilously on the brink of exiting the eurozone.
At stake was not only Greece's destiny but also the punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras also wrote how his confrontational style left him more and more alone among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.
