Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he selected the unorthodox academic Varoufakis to be his finance minister primarily because of his international reputation along with his very persuasive skills as a public orator.
“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own agenda that included promoting Varoufakis's books as well as experimenting with his own game theories on Greece instead of truly fighting for its financial survival.
He explained that those negotiations to avoid bankruptcy were “not only a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only Greece's future but also the harsh austerity measures demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move that threw the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He further wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
The account of history has been met with fury along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
