Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, he appointed the maverick economist Varoufakis as the treasury head primarily due to the latter's international reputation and his highly compelling abilities when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda which involved promoting Varoufakis's books as well as testing out his own game theories on the nation rather than genuinely fighting for its economic stability.
He explained how the talks to prevent insolvency became “not only a way to secure improved terms for the country. They were an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was both the country's future but also the severe austerity measures demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were put to a public vote, an action that threw Europe into further crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts how his former ally had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This retelling of history has provoked anger and shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.
