In a recently unveiled autobiography, called Ithaki, the former leader Tsipras does not hold back while he examines the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he selected the maverick academic Varoufakis as the treasury head mainly due to his global profile along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal motives that involved promoting Varoufakis's books as well as experimenting with his theories using the nation instead of truly fighting for its financial survival.
Tsipras explained how those negotiations to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
Critical Negotiations
During tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was both the country's destiny but also those severe austerity policies demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate management.”
He also wrote that his aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
