Within his recently unveiled autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits the turbulent era of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, he appointed the unorthodox economist Varoufakis as his finance minister primarily due to his worldwide fame along with his very persuasive skills as a speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal agenda that included advancing his books and testing out his theories on Greece rather than genuinely fighting for the country's economic stability.
He wrote how those talks to avoid insolvency became “not just a method of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously close to exiting the eurozone.
At stake lay both Greece's future but also those harsh austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was game over questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This retelling of events has provoked anger and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
