Within his recently unveiled autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he examines the chaotic era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, he chose that maverick academic Varoufakis as the treasury head primarily because of his international reputation and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed his own motives which involved promoting his books and experimenting with his economic models using the nation rather than truly advocating the country's economic stability.
He wrote that the negotiations to avoid insolvency were “not only a way of achieving a better deal for Greece. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Talks
During volatile discussions, the country found itself perilously on the brink of exiting the single currency area.
On the line was both Greece's future but also the harsh cutbacks required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras also claimed how his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has been met with fury and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
