In a newly released autobiography, titled Ithaki, the former leader Tsipras pulls no punches as he examines that chaotic era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected that unorthodox academic Varoufakis to be his finance minister primarily due to the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives which included promoting Varoufakis's publications and testing out his economic models on the nation instead of genuinely advocating its financial survival.
He noted how those discussions to stave off bankruptcy became “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, the country found itself perilously on the brink of exiting the single currency area.
On the line lay not only the country's future and those severe cutbacks required in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action which threw Europe into a further crisis of identity.
Even though the referendum was won decisively by those against austerity, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included creating a secondary currency and distributing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of history has provoked anger and shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
