In a recently unveiled autobiography, named Ithaki, the former leader Tsipras spares no criticism while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed the maverick academic Varoufakis as his treasury head largely due to the latter's global profile and Varoufakis's highly compelling abilities as a public orator.
“He was, truthfully, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief had his own motives which involved promoting his publications as well as testing out his theories using the nation rather than truly fighting for its economic stability.
Tsipras wrote that the discussions to stave off bankruptcy were “not just a way to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's future but also the harsh austerity measures required in exchange for bailout funds from international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were put to a public vote, a move that plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate management.”
He also wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with fury and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
