In a newly released memoir, titled Ithaki, the former premier Tsipras does not hold back as he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, he selected that maverick economist Varoufakis as his treasury head largely due to his worldwide fame and his “extremely attractive” abilities as a public orator.
“In reality, he was, actually, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis had a personal agenda which included promoting his publications and testing out his economic models using the nation instead of genuinely fighting for its financial survival.
Tsipras noted that the discussions to prevent insolvency became “not only a way of achieving improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
During volatile negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny and the punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which threw the EU into further crisis of identity.
Although the vote was won resoundingly by voters against austerity, the prime minister was forced but to ignore the result and agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He further claimed how his aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
