In a newly released autobiography, called Ithaki, the ex- leader Tsipras does not hold back as he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, he chose the maverick academic Varoufakis to be his finance minister largely because of the latter's worldwide fame and his highly compelling skills as a communicator.
“In reality, he was, actually, more of a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests that his finance chief had his own agenda which included promoting Varoufakis's publications as well as testing out his theories on the nation rather than truly fighting for its economic stability.
Tsipras noted how the discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
At stake was not only the country's destiny and those punishing austerity measures demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action that threw Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
He also claimed that his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of history has been met with anger along with shock among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
