In a recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches while he examines that chaotic era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, he chose that unorthodox academic Varoufakis as the finance minister mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that his finance chief possessed a personal motives that involved promoting Varoufakis's books and experimenting with his economic models using Greece rather than truly advocating its financial survival.
He noted how those discussions to prevent insolvency became “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece came perilously close to exiting the eurozone.
On the line was both the country's future but also those punishing austerity policies demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive conditions were put to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
He also wrote that his aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
