Within his freshly published autobiography, titled Ithaki, the former premier Tsipras does not hold back while he revisits the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras appointed the unorthodox economist Varoufakis as his finance minister primarily because of his global profile along with Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own agenda which involved promoting his books as well as experimenting with his own theories using Greece instead of truly advocating its financial survival.
He noted how those talks to prevent insolvency were “not just a method to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only the country's future but also the punishing austerity policies demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further wrote that his aggressive approach left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
