Within his newly released autobiography, named Ithaki, the ex- leader Tsipras does not hold back while he reflects on that chaotic period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis as his treasury head mainly because of the latter's global profile along with his “extremely attractive” skills as a public orator.
“He was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own agenda that included advancing his publications and testing out his own economic models using the nation rather than truly fighting for the country's economic stability.
Tsipras wrote how those discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the validity of his theories.”
Critical Talks
During volatile negotiations, the country found itself perilously close to exiting the single currency area.
On the line was both the country's future but also the harsh cutbacks required in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Although the vote was won resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive management.”
Tsipras also wrote how his confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
