Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches as he reflects on that turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as the treasury head largely because of the latter's global profile along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal agenda which included advancing Varoufakis's publications and testing out his own theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras wrote how the negotiations to stave off insolvency were “not just a method to secure improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay not only the country's destiny but also the punishing cutbacks required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency and distributing vouchers to retirees, the leader knew it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He further wrote how his confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
