Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches as he revisits that turbulent era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected the unorthodox economist Varoufakis as his treasury head primarily because of his international reputation along with Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own agenda that included advancing his publications and experimenting with his game theories on the nation rather than genuinely advocating its financial survival.
Tsipras noted how those talks to prevent insolvency were “not just a way to secure improved terms for Greece. They became a test, an historic chance to prove the validity of his theories.”
Critical Talks
During tense negotiations, the country found itself perilously close to exiting the eurozone.
At stake was not only the country's destiny and those harsh cutbacks required in return for rescue loans from foreign lenders.
Failed Options
Efforts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a public vote, a move which threw the EU into a further crisis of identity.
Even though the vote was won decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how his aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
