In a recently unveiled autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches while he examines the chaotic era of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras chose the unorthodox economist Varoufakis as the treasury head primarily due to his international reputation and his very persuasive skills when it came to public orator.
“He was, truthfully, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal motives that involved advancing Varoufakis's books and testing out his theories using Greece instead of genuinely fighting for its economic stability.
He explained how the negotiations to prevent insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
During volatile discussions, Greece came dangerously close to leaving the eurozone.
On the line was both the country's future and those severe austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and issuing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
He further wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
