Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he examines the chaotic era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he selected the maverick academic Varoufakis as the treasury head primarily because of his global profile along with his highly compelling skills as a public orator.
“He was, truthfully, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal agenda that involved promoting his books as well as experimenting with his own theories using the nation instead of genuinely fighting for its economic stability.
Tsipras wrote how those talks to avoid insolvency were “not just a method to secure a better deal for the country. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense negotiations, the country came perilously on the brink of leaving the eurozone.
On the line lay not only the country's destiny and the severe cutbacks required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a public vote, an action that plunged Europe into further existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The account of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
