In a newly released autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, he appointed the unorthodox academic Varoufakis as the finance minister primarily due to the latter's international reputation and Varoufakis's highly compelling abilities as a public orator.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had a personal motives which included promoting Varoufakis's publications as well as experimenting with his own game theories using Greece rather than genuinely fighting for its economic stability.
Tsipras explained how those negotiations to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Talks
During tense negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was both the country's destiny but also those harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further claimed how his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked fury and shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
