Within his newly released autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed the unorthodox economist Varoufakis to be his finance minister mainly because of the latter's global profile along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests how Varoufakis possessed a personal agenda that involved promoting Varoufakis's books as well as experimenting with his own economic models on Greece instead of truly fighting for the country's financial survival.
Tsipras wrote how the talks to stave off insolvency became “not just a method to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to leaving the eurozone.
At stake lay not only Greece's destiny and those harsh cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and distributing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author asserts how his former ally had proved himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence on the matter.
