Within his newly released autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he examines that chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected that unorthodox academic Varoufakis as the finance minister mainly due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had a personal agenda that included promoting his publications and experimenting with his own theories using Greece instead of truly advocating its economic stability.
Tsipras noted that the negotiations to prevent insolvency became “not just a method of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny and the severe cutbacks required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that his former ally had proved himself “unfit for a deal that required complex and delicate management.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
