Within his recently unveiled autobiography, called Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he appointed the unorthodox academic Varoufakis as his treasury head largely because of his international reputation and his highly compelling skills when it came to speaker.
“He was, actually, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed a personal motives that included advancing Varoufakis's publications and experimenting with his own theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted that those negotiations to stave off insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny and those harsh cutbacks required in exchange for rescue loans by international creditors.
Failed Options
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action that threw Europe into a further existential crisis.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
He also wrote that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
