Within his recently unveiled autobiography, called Ithaki, the former premier Tsipras does not hold back as he reflects on the chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, Tsipras chose the unorthodox economist Varoufakis as his treasury head mainly due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis had a personal motives which included advancing his books and testing out his theories on the nation instead of truly fighting for the country's economic stability.
Tsipras wrote that the talks to avoid insolvency became “not only a way of achieving a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, the country came dangerously close to exiting the eurozone.
On the line was not only the country's future and those punishing cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action that plunged Europe into a further crisis of identity.
Although the referendum was won resoundingly by voters against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
He further claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
