In a freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that turbulent era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he appointed the unorthodox economist Varoufakis as the treasury head mainly because of his international reputation along with his “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis had his own motives that involved advancing Varoufakis's publications and experimenting with his economic models using Greece instead of genuinely advocating its financial survival.
He explained that the discussions to avoid insolvency became “not only a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to exiting the eurozone.
At stake was not only the country's destiny but also those severe austerity measures demanded in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a public vote, an action which threw the EU into a further existential crisis.
Although the vote was won resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome and negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
