In a recently unveiled autobiography, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits the chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he appointed the unorthodox economist Varoufakis to be his treasury head mainly due to the latter's international reputation along with Varoufakis's highly compelling skills as a public orator.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had his own agenda which included advancing Varoufakis's publications and testing out his economic models on the nation rather than genuinely advocating its economic stability.
Tsipras wrote how the negotiations to prevent insolvency became “not just a way of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also the harsh cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, an action which threw Europe into a further crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked anger and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
