Within his recently unveiled memoir, titled Ithaki, the former leader Tsipras does not hold back as he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis to be his treasury head mainly because of the latter's global profile along with his very persuasive skills when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis possessed a personal agenda that involved promoting his books as well as testing out his economic models on Greece instead of genuinely advocating its economic stability.
He explained that the discussions to avoid insolvency were “not just a method of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and the severe austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action which threw Europe into further crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
