In a recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as the treasury head primarily because of the latter's global profile along with his “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives that included promoting Varoufakis's books and testing out his game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras noted that the talks to avoid insolvency became “not just a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny but also the harsh cutbacks demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that threw Europe into a deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister had little option to reject its outcome then agree to a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing coupons to retirees, the leader knew it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how his aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
