In a recently unveiled autobiography, named Ithaki, the former premier Tsipras does not hold back while he revisits that chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, he chose that unorthodox academic Varoufakis as his treasury head primarily due to the latter's global profile and his very persuasive abilities as a communicator.
“He was, actually, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda which involved advancing Varoufakis's books as well as experimenting with his economic models using Greece instead of truly advocating its financial survival.
He noted that the discussions to stave off insolvency became “not only a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously close to exiting the eurozone.
On the line was not only the country's destiny but also the harsh austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move that threw the EU into a further crisis of identity.
Although the referendum was won resoundingly by those against the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further wrote how his confrontational style left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
