Within his recently unveiled autobiography, called Ithaki, the former leader Tsipras pulls no punches as he revisits that chaotic period of Greece's debt drama.
A Controversial Choice
In Tsipras's account, Tsipras chose the unorthodox academic Varoufakis to be his finance minister mainly because of his global profile along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal agenda which included advancing his books as well as experimenting with his economic models using the nation rather than truly advocating its economic stability.
Tsipras noted how those talks to avoid bankruptcy were “not only a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny but also those punishing cutbacks required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result then agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
He further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
