In a freshly published autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, he chose the unorthodox academic Varoufakis as his treasury head largely due to his global profile and his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more of a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief had his own agenda which included promoting his publications as well as experimenting with his own game theories on Greece instead of genuinely advocating its economic stability.
Tsipras wrote how those talks to stave off insolvency became “not only a method to secure improved terms for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously close to leaving the single currency area.
At stake was not only the country's future but also those severe cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that plunged the EU into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result and negotiate a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed how his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of events has been met with anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
