Within his newly released autobiography, titled Ithaki, the former premier Tsipras spares no criticism as he revisits the turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, Tsipras appointed that maverick economist Varoufakis as his finance minister mainly because of his global profile along with his very persuasive abilities when it came to communicator.
“He was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal agenda which involved promoting Varoufakis's books as well as experimenting with his theories using Greece instead of genuinely advocating the country's economic stability.
Tsipras wrote how those discussions to stave off bankruptcy were “not just a method to secure improved terms for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line was not only Greece's future and the severe cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move that plunged the EU into further existential crisis.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and agree to a rescue deal with creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He also claimed that his aggressive style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
