Within his newly released autobiography, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected the unorthodox economist Varoufakis to be his finance minister primarily due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief had his own agenda that involved promoting his books and testing out his game theories on the nation rather than genuinely advocating the country's economic stability.
He wrote that the negotiations to stave off insolvency were “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay both the country's destiny but also the punishing cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action which threw Europe into a further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then negotiate a bailout package with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also wrote how his confrontational style made him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
