Within his recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he reflects on that turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he appointed the maverick economist Varoufakis as his treasury head largely due to the latter's worldwide fame and his highly compelling abilities when it came to public orator.
“He was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives which included promoting Varoufakis's books and experimenting with his own economic models using Greece rather than genuinely fighting for its financial survival.
He noted that those negotiations to prevent insolvency became “not only a method of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, the country came dangerously close to exiting the single currency area.
At stake was both the country's destiny but also those harsh austerity policies required in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts how his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He also wrote that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
