In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, Tsipras chose the maverick economist Varoufakis to be the treasury head mainly because of his worldwide fame and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own motives which included promoting his publications and experimenting with his own economic models using the nation instead of truly advocating the country's economic stability.
He noted that those discussions to stave off bankruptcy became “not just a method to secure improved terms for the country. They became a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was not only the country's future and those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Although the vote was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
He also wrote how his confrontational style made him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This retelling of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
