In a freshly published autobiography, titled Ithaki, the ex- leader Tsipras does not hold back as he reflects on that turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, he selected that unorthodox economist Varoufakis to be the finance minister largely due to his worldwide fame and Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had a personal agenda that included advancing Varoufakis's publications and experimenting with his own game theories on Greece rather than truly advocating its financial survival.
He noted how those discussions to prevent bankruptcy became “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
During volatile negotiations, Greece came perilously close to exiting the single currency area.
At stake was not only Greece's destiny but also those punishing cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by voters against austerity, the prime minister was forced to ignore the result then negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that his former ally had proved himself “unfit for an agreement that required complex and delicate management.”
He also wrote how his aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
