In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras does not hold back as he examines that turbulent period during Greece's debt drama.
A Controversial Choice
According to Tsipras's version, he appointed the unorthodox economist Varoufakis as the treasury head mainly due to his international reputation and his “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief had his own motives which included promoting his books and experimenting with his own economic models on the nation instead of genuinely fighting for the country's economic stability.
He wrote how those negotiations to prevent insolvency were “not only a way to secure improved terms for the country. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny but also the severe austerity policies required in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive conditions were put to a public vote, an action which plunged Europe into a further existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
Tsipras also wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
