In a newly released autobiography, titled Ithaki, the ex- premier Tsipras does not hold back as he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis as his treasury head mainly because of the latter's international reputation along with his “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own motives that involved advancing his books as well as experimenting with his theories on Greece instead of truly advocating the country's economic stability.
Tsipras wrote how the discussions to avoid insolvency became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only the country's destiny and those harsh cutbacks demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further claimed how his aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of events has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
