In a recently unveiled personal account, titled Ithaki, the former prime minister Tsipras pulls no punches as he examines the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras selected the unorthodox academic Varoufakis to be the finance minister mainly due to his international reputation along with his very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a star rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own agenda which included promoting his publications as well as testing out his own game theories on Greece instead of truly fighting for the country's financial survival.
Tsipras explained how those discussions to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
On the line was not only Greece's future but also those severe austerity policies required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Although the vote was won decisively by voters against austerity, Tsipras had little option to ignore the result then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also wrote that his confrontational approach made him more and more alone among peers, endangered the country, and helped hawks that were advocating Grexit.
This retelling of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
