In a recently unveiled autobiography, named Ithaki, the ex- premier Tsipras spares no criticism while he examines that chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that unorthodox economist Varoufakis as his finance minister largely because of the latter's international reputation along with his “extremely attractive” skills as a communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal motives which involved advancing his publications as well as testing out his own theories on the nation instead of truly advocating its financial survival.
Tsipras explained that those discussions to prevent bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
During tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line was both the country's future and those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras also claimed how his aggressive style made him more and more alone among peers, endangered the country, while helped hawks that were advocating Grexit.
The retelling of events has been met with anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
