Within his newly released autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, he selected the unorthodox academic Varoufakis as the finance minister primarily because of his global profile and his “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had his own agenda that involved advancing his publications and testing out his own game theories on Greece rather than truly fighting for the country's economic stability.
Tsipras wrote that those negotiations to prevent insolvency became “not just a method to secure improved terms for Greece. They became an experiment, a monumental chance to prove the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also those punishing cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Although the vote was won decisively by those against austerity, Tsipras was forced to ignore the result then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He also claimed how his aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
