In a recently unveiled autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he examines that turbulent era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose the maverick academic Varoufakis to be the treasury head primarily due to his global profile along with Varoufakis's highly compelling skills as a speaker.
“He was, in reality, more like a star and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had a personal agenda that included advancing his publications and experimenting with his economic models using Greece instead of truly fighting for its economic stability.
Tsipras noted how the negotiations to avoid bankruptcy became “not just a way to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the eurozone.
At stake was not only Greece's future and those punishing cutbacks required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a public vote, an action which threw the EU into a further crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to retirees, the leader knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed how his aggressive approach left him increasingly isolated among peers, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
