Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back while he revisits that turbulent period of Greece's debt drama.
A Controversial Choice
In Tsipras's version, he chose the unorthodox academic Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own agenda that included promoting his books as well as testing out his own game theories using Greece rather than truly advocating its financial survival.
He noted that those discussions to stave off insolvency were “not just a way to secure improved terms for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, the country came perilously on the brink of leaving the eurozone.
At stake was not only Greece's future but also those severe cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were subjected to a public vote, an action which threw the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required complex and delicate management.”
Tsipras also claimed how his confrontational approach left him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
