Within his recently unveiled autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, Tsipras appointed the unorthodox academic Varoufakis as the treasury head largely because of the latter's global profile and Varoufakis's highly compelling skills as a public orator.
“He was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed a personal motives that involved advancing his books and experimenting with his own economic models on the nation instead of genuinely fighting for the country's economic stability.
Tsipras wrote that the discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only Greece's destiny and those harsh austerity policies demanded in return for bailout funds by international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action that threw the EU into a further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras had little option to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing coupons to retirees, the leader knew it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
