Within his freshly published autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose that maverick academic Varoufakis to be the treasury head mainly because of the latter's global profile along with his highly compelling skills when it came to public orator.
“He was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal agenda which included promoting his publications as well as testing out his own theories using Greece rather than truly fighting for its financial survival.
Tsipras noted that those negotiations to prevent insolvency were “not only a way to secure a better deal for Greece. They were a test, an historic chance to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line lay not only the country's future but also the punishing cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of publications the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for Grexit.
The account of events has been met with anger along with shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
