In a freshly published autobiography, named Ithaki, the former premier Tsipras pulls no punches while he reflects on the chaotic era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he chose that maverick economist Varoufakis as the finance minister largely due to his international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more of a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras suggests how his finance chief had a personal agenda that included advancing his books and testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
Tsipras wrote how the talks to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line was not only the country's future but also the harsh cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, a move which plunged the EU into further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced to ignore the result then negotiate a bailout package with creditors that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unfit for a deal that required intricate and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of events has provoked anger along with shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
