In a newly released personal account, titled Ithaki, the ex- premier Tsipras spares no criticism while he examines that turbulent period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose the maverick academic Varoufakis as the finance minister primarily due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own agenda that involved promoting his books as well as experimenting with his own economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that those discussions to stave off insolvency became “not only a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
On the line was both the country's destiny but also the severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras had little option but to ignore the result and agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how his former ally had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The account of history has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
