In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he selected the maverick economist Varoufakis to be his finance minister primarily due to his worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“He was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had his own agenda which involved advancing his publications and testing out his own game theories using the nation rather than truly fighting for the country's economic stability.
He explained that the talks to avoid insolvency became “not only a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny and those harsh austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unfit for a deal that required intricate and sensitive handling.”
He further wrote how his aggressive style left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked fury along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
