Within his newly released autobiography, called Ithaki, the ex- leader Tsipras does not hold back while he examines that turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he chose that maverick economist Varoufakis as the finance minister largely because of his worldwide fame and his highly compelling skills as a speaker.
“He was, in reality, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis had his own motives that involved promoting Varoufakis's publications and testing out his theories on the nation instead of genuinely advocating its economic stability.
Tsipras noted that those talks to avoid insolvency were “not only a way of achieving improved terms for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously on the brink of leaving the single currency area.
At stake was both the country's destiny but also the harsh austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, a move that threw the EU into further crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
