In a freshly published autobiography, named Ithaki, the former leader Tsipras pulls no punches as he examines the turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's account, Tsipras appointed the maverick academic Varoufakis to be the treasury head mainly due to the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, actually, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed a personal agenda which involved advancing Varoufakis's books as well as testing out his own game theories on Greece rather than truly advocating its financial survival.
Tsipras noted that those talks to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
During tense negotiations, the country came dangerously close to exiting the eurozone.
On the line lay both Greece's destiny but also those punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action that plunged Europe into a further crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … it seemed he relished his new role.”
When the minister proposed a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author asserts how his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
