Within his newly released autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches as he revisits the chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis to be the finance minister primarily due to his international reputation along with his highly compelling abilities when it came to speaker.
“He was, actually, more like a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed his own motives that included promoting his publications as well as experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a method to secure improved terms for the country. They became a test, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece came perilously close to leaving the eurozone.
On the line was both Greece's future but also those harsh austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were subjected to a public vote, a move that plunged the EU into a deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package with creditors which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also wrote that his aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked anger and shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
