Within his recently unveiled autobiography, called Ithaki, the former premier Tsipras does not hold back as he reflects on the turbulent era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, Tsipras chose the maverick academic Varoufakis to be his treasury head primarily because of the latter's international reputation along with his very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis possessed a personal motives which involved advancing his publications as well as experimenting with his own economic models on Greece rather than truly advocating its economic stability.
Tsipras explained how the discussions to prevent bankruptcy were “not only a method of achieving a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both the country's destiny and the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a public vote, a move which plunged the EU into a further crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
