In a freshly published autobiography, named Ithaki, the ex- leader Tsipras does not hold back while he revisits that turbulent era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected the maverick academic Varoufakis to be the treasury head primarily due to the latter's global profile along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief possessed his own motives which included advancing his publications as well as testing out his theories on the nation rather than truly advocating the country's financial survival.
He explained that the negotiations to prevent bankruptcy were “not just a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake lay both the country's destiny but also the harsh austerity measures required in return for bailout funds by international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency and distributing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself “unfit for an agreement that required intricate and delicate management.”
He further claimed that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
