Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that chaotic era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras selected the unorthodox academic Varoufakis to be the treasury head primarily due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had his own agenda which involved advancing Varoufakis's books as well as testing out his economic models on the nation instead of genuinely advocating its financial survival.
Tsipras explained that the talks to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came perilously close to leaving the single currency area.
On the line lay not only the country's destiny but also the punishing austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive management.”
He further claimed that his aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
