Within his newly released autobiography, called Ithaki, the ex- leader Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, he appointed the unorthodox economist Varoufakis to be the finance minister largely due to the latter's international reputation and his very persuasive skills when it came to speaker.
“He was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives that involved promoting his books as well as testing out his own theories on Greece rather than truly advocating the country's financial survival.
Tsipras explained that the talks to avoid insolvency were “not only a method of achieving a better deal for the country. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.
At stake lay both the country's destiny but also those punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the vote was won decisively by those against the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
