In a freshly published autobiography, titled Ithaki, the ex- leader Tsipras spares no criticism while he examines the turbulent era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, he chose that maverick academic Varoufakis as his finance minister mainly because of the latter's international reputation along with his highly compelling skills as a public orator.
“He was, in reality, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed his own agenda which involved advancing his publications and testing out his own economic models on Greece instead of genuinely fighting for its financial survival.
Tsipras noted that those discussions to stave off bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, the country came perilously on the brink of exiting the single currency area.
On the line was not only the country's future and the harsh austerity measures required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from creditors which proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras further wrote that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
