Within his freshly published autobiography, named Ithaki, the former premier Tsipras pulls no punches as he reflects on that chaotic era of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he selected that maverick economist Varoufakis as the treasury head mainly because of his worldwide fame and his highly compelling skills as a speaker.
“He was, in reality, more like a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had his own agenda which involved advancing Varoufakis's publications and testing out his own economic models using the nation instead of genuinely fighting for its financial survival.
He explained that the talks to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line was not only the country's destiny but also those harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He also wrote that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
This account of history has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
