In a newly released autobiography, titled Ithaki, the ex- prime minister Tsipras does not hold back while he examines that chaotic era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he chose the maverick economist Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his own economic models on the nation instead of genuinely fighting for its economic stability.
Tsipras noted how the talks to avoid bankruptcy were “not only a method of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously close to leaving the single currency area.
On the line lay not only the country's future and those harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a public vote, a move that threw the EU into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result and agree to a rescue deal with creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal that required intricate and delicate handling.”
Tsipras further claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
