Within his recently unveiled autobiography, titled Ithaki, the former premier Tsipras does not hold back while he examines the turbulent period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that maverick economist Varoufakis to be his treasury head largely due to his international reputation and his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal motives that involved advancing Varoufakis's books and testing out his own economic models using Greece instead of genuinely advocating its economic stability.
He explained that the discussions to stave off bankruptcy were “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid rollercoaster discussions, the country came dangerously close to leaving the eurozone.
At stake was both Greece's future but also those severe cutbacks required in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He 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 relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how his former ally demonstrated himself “unfit for an agreement that required complex and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
