In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras does not hold back as he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, he appointed the unorthodox economist Varoufakis as his finance minister primarily because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief possessed his own agenda that involved advancing his publications and experimenting with his theories on the nation rather than truly fighting for the country's financial survival.
He explained how the negotiations to stave off insolvency became “not only a way to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously close to leaving the single currency area.
At stake lay both the country's future and the severe austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating bailout terms were put to a public vote, an action that threw Europe into further existential crisis.
Even though the referendum was carried decisively by those against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
He also claimed how his aggressive style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
This retelling of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
