In a freshly published autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches while he reflects on that turbulent period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, he appointed the maverick academic Varoufakis as the treasury head primarily due to his global profile along with his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had a personal motives which involved promoting Varoufakis's publications as well as testing out his economic models on Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how those negotiations to prevent insolvency became “not only a method to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both Greece's future and the severe austerity measures demanded in return for rescue loans by international creditors.
Failed Options
Efforts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move that plunged the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
The account of events has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
