Within his recently unveiled autobiography, named Ithaki, the former prime minister Tsipras pulls no punches as he reflects on the chaotic period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, he chose the maverick economist Varoufakis as his finance minister mainly because of the latter's global profile along with his “extremely attractive” abilities as a communicator.
“He was, truthfully, more like a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had his own agenda which included promoting Varoufakis's books as well as testing out his own economic models using the nation rather than genuinely fighting for its financial survival.
He wrote how those talks to avoid bankruptcy became “not just a method to secure improved terms for the country. They were a test, a monumental chance to prove the validity of his theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
At stake lay not only the country's future but also the punishing austerity measures required in return for financial aid by international creditors.
Failed Alternatives
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into further existential crisis.
Although the referendum was won decisively by voters who opposed austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
This retelling of history has been met with anger and shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
