Within his freshly published autobiography, titled Ithaki, the former leader Tsipras pulls no punches while he examines that chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he chose the unorthodox economist Varoufakis as the finance minister primarily because of his worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis had a personal motives that involved promoting Varoufakis's books and experimenting with his economic models on the nation rather than genuinely fighting for its financial survival.
Tsipras explained that those negotiations to prevent bankruptcy became “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously close to leaving the eurozone.
On the line was not only the country's destiny and those severe austerity policies required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action which threw Europe into further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive handling.”
Tsipras further wrote that his aggressive style left him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
