In a newly released autobiography, named Ithaki, the former leader Tsipras pulls no punches as he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he chose that unorthodox academic Varoufakis to be the finance minister mainly due to the latter's international reputation along with his very persuasive skills when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own motives that involved promoting his publications and testing out his economic models on the nation instead of genuinely advocating its economic stability.
He explained that the talks to avoid insolvency were “not only a way to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay both the country's future but also the severe cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Even though the vote was won decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
