Within his newly released autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits that turbulent era during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he chose that maverick economist Varoufakis to be the finance minister mainly because of his worldwide fame and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief had his own motives that involved promoting Varoufakis's books as well as testing out his theories on the nation rather than genuinely advocating the country's financial survival.
He noted that the discussions to avoid bankruptcy were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both Greece's destiny but also the harsh cutbacks required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, a move that plunged Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
