In a newly released autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he revisits the turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, Tsipras selected the unorthodox economist Varoufakis to be the finance minister largely due to the latter's worldwide fame along with his very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief possessed his own agenda which involved promoting his books and experimenting with his theories on the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained that those discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came perilously on the brink of leaving the eurozone.
At stake lay both the country's destiny and those punishing austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced but to ignore the result then agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He also wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
This retelling of history has been met with anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
