Within his recently unveiled autobiography, named Ithaki, the former leader Tsipras pulls no punches as he reflects on that turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras chose that maverick academic Varoufakis as his finance minister primarily due to the latter's global profile along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had his own motives which involved advancing his publications as well as testing out his game theories using Greece rather than genuinely advocating its economic stability.
He wrote that the negotiations to stave off bankruptcy were “not only a method to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay both the country's future but also the punishing austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move which plunged the EU into deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also wrote that his confrontational approach made him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
