In a newly released autobiography, titled Ithaki, the former premier Tsipras does not hold back as he examines that chaotic period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, Tsipras selected the maverick economist Varoufakis as the finance minister primarily because of the latter's global profile along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had a personal agenda that included promoting Varoufakis's books and testing out his theories on Greece instead of truly advocating its economic stability.
He noted how those talks to avoid insolvency were “not only a way of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile negotiations, the country came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's future and those severe cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged Europe into further existential crisis.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote that his confrontational approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
