Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras does not hold back as he examines that turbulent era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, he chose that maverick academic Varoufakis to be his treasury head primarily due to his worldwide fame along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, in reality, more of a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis had his own motives which included advancing Varoufakis's publications and testing out his economic models using the nation rather than genuinely fighting for the country's financial survival.
He noted how the talks to avoid bankruptcy became “not just a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
At stake was not only the country's future but also the harsh austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed 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 covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over questioning him: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras also claimed how his confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock in some quarters, while the former minister has kept a deafening silence on the matter.
