Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he examines the turbulent era of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, he chose that maverick economist Varoufakis to be his treasury head largely due to his global profile and his “extremely attractive” skills when it came to communicator.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had his own agenda which included promoting Varoufakis's books as well as testing out his own game theories on Greece rather than truly advocating the country's financial survival.
Tsipras noted how the negotiations to avoid insolvency were “not only a way to secure improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
During rollercoaster discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was both the country's future but also the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action that plunged the EU into a further crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal demanding intricate and delicate handling.”
He also wrote that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
