In a newly released memoir, named Ithaki, the ex- premier Tsipras pulls no punches while he revisits that turbulent period during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed that maverick economist Varoufakis as his treasury head mainly due to the latter's worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed his own motives which involved advancing his books as well as testing out his own theories using the nation instead of genuinely advocating its financial survival.
Tsipras noted that those discussions to avoid insolvency became “not only a method of achieving a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only the country's destiny but also those harsh cutbacks 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 buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, a move that threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
