In a freshly published autobiography, named Ithaki, the ex- leader Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, he selected the unorthodox economist Varoufakis as the treasury head largely because of his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had a personal motives that included advancing his publications and experimenting with his economic models using the nation rather than truly advocating its financial survival.
He explained how those talks to stave off bankruptcy were “not just a way to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake lay both the country's future and those harsh austerity measures demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
