In a freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, he selected that unorthodox economist Varoufakis to be his finance minister mainly because of his worldwide fame along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal motives that involved advancing Varoufakis's books and testing out his own economic models on Greece instead of genuinely advocating the country's economic stability.
He wrote that the talks to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
Amid tense discussions, Greece came perilously close to leaving the eurozone.
On the line lay both Greece's destiny but also those harsh austerity measures demanded in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and agree to a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of events has provoked anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
