Within his recently unveiled autobiography, named Ithaki, the former premier Tsipras does not hold back as he examines that turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis as his treasury head largely due to his worldwide fame along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda that involved promoting his books and experimenting with his own economic models on the nation instead of truly advocating the country's economic stability.
Tsipras wrote how the negotiations to stave off insolvency became “not only a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously close to leaving the eurozone.
On the line was not only Greece's destiny but also those severe austerity measures demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that plunged Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by voters against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He also claimed how his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
This account of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
