In a freshly published autobiography, called Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, he appointed that maverick academic Varoufakis as his treasury head primarily due to the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal motives which involved promoting his books and experimenting with his own theories using the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted how the discussions to avoid insolvency were “not just a method to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was not only the country's future and those severe cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option to ignore the result and negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a secondary currency and distributing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked fury and shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
