In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines that turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras chose the maverick economist Varoufakis to be the finance minister mainly due to the latter's international reputation along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more like a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had his own motives that included promoting Varoufakis's publications and experimenting with his own theories on Greece rather than truly advocating the country's financial survival.
He explained how the talks to stave off insolvency were “not only a method to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of his theories.”
Critical Talks
During tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake was both Greece's future and those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh conditions were put to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
