Within his recently unveiled autobiography, named Ithaki, the former prime minister Tsipras pulls no punches as he revisits the turbulent period of Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras appointed the unorthodox economist Varoufakis to be the treasury head mainly because of the latter's worldwide fame along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had a personal motives that included promoting Varoufakis's publications as well as testing out his own game theories on the nation rather than genuinely advocating its financial survival.
Tsipras wrote that the negotiations to avoid bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's future but also the punishing austerity measures demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
Tsipras also claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
