In a newly released personal account, titled Ithaki, the ex- premier Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, he appointed that maverick economist Varoufakis to be the finance minister largely because of the latter's global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal motives which included advancing his books and experimenting with his own economic models on Greece rather than genuinely advocating the country's economic stability.
He wrote that those talks to stave off bankruptcy became “not just a method to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During tense negotiations, the country found itself perilously close to exiting the single currency area.
On the line lay not only the country's future but also the severe austerity measures required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
