Within his recently unveiled autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's account, he selected the unorthodox academic Varoufakis as the finance minister largely due to his worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal motives which involved promoting Varoufakis's books and testing out his economic models using the nation instead of genuinely fighting for its economic stability.
He wrote that those negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, the country came perilously close to leaving the eurozone.
At stake lay not only the country's future and those punishing austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh bailout terms were subjected to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result and agree to a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate handling.”
He also claimed that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
