Within his newly released autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he revisits the turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he selected the unorthodox economist Varoufakis as his finance minister mainly due to his global profile and his highly compelling skills as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own agenda that included advancing Varoufakis's publications and testing out his game theories on Greece rather than genuinely advocating the country's financial survival.
He wrote that the negotiations to avoid bankruptcy became “not just a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay not only the country's future and the harsh austerity measures demanded in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This retelling of events has provoked fury along with shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
