In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits the chaotic era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, Tsipras selected that maverick academic Varoufakis as the finance minister mainly because of his worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own agenda that involved promoting Varoufakis's publications and testing out his economic models using the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that those negotiations to prevent insolvency became “not just a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously close to exiting the eurozone.
On the line was not only the country's future and those punishing cutbacks required in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw Europe into deeper existential crisis.
Even though the referendum was won decisively by those against austerity, Tsipras had little option to reject its outcome and agree to a bailout package with foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger along with shock among certain groups, whereas the former minister has maintained a deafening silence on the matter.
