Within his newly released memoir, named Ithaki, the ex- leader Tsipras spares no criticism while he examines that chaotic period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as his treasury head largely because of the latter's global profile and Varoufakis's highly compelling abilities when it came to public orator.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis had a personal motives which involved advancing his publications and testing out his game theories using Greece rather than truly fighting for its economic stability.
He wrote how those negotiations to prevent bankruptcy were “not only a way to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's future and those punishing cutbacks required in exchange for financial aid by foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action that threw the EU into a deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, the leader knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
