In a recently unveiled autobiography, called Ithaki, the former premier Tsipras does not hold back as he reflects on the turbulent era of Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, Tsipras chose the unorthodox academic Varoufakis as his treasury head primarily due to the latter's global profile and his very persuasive abilities as a communicator.
“He was, actually, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed his own motives that involved promoting Varoufakis's books as well as testing out his game theories using the nation instead of genuinely advocating the country's financial survival.
He noted how the negotiations to stave off insolvency became “not only a way of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's future and those severe austerity measures required in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by those against the cuts, Tsipras had little option but to reject its outcome then agree to a bailout package from creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement that required complex and sensitive management.”
He also claimed how his confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and shock in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
