Within his newly released autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on the chaotic period of Greece's financial crisis.
A Controversial Appointment
In Tsipras's recollections, Tsipras chose that maverick economist Varoufakis to be his treasury head largely due to his international reputation and Varoufakis's highly compelling abilities as a communicator.
“He was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda that included advancing Varoufakis's books as well as experimenting with his own economic models on the nation instead of truly advocating the country's economic stability.
Tsipras explained that those discussions to stave off insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came perilously on the brink of exiting the eurozone.
On the line lay not only the country's future but also those severe austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the excoriating conditions were put to a popular referendum, an action that threw the EU into deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He further claimed how his confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has provoked fury along with shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
