In a newly released autobiography, titled Ithaki, the former premier Tsipras pulls no punches while he examines the chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, he appointed that maverick economist Varoufakis to be his treasury head primarily because of the latter's worldwide fame and his very persuasive skills when it came to speaker.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own motives which involved promoting Varoufakis's books and experimenting with his economic models on the nation instead of genuinely advocating the country's financial survival.
Tsipras noted that those talks to stave off insolvency became “not just a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay both Greece's future and the severe cutbacks demanded in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
This retelling of events has provoked anger along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
