Within his newly released memoir, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits that chaotic era of Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose that maverick academic Varoufakis to be the finance minister mainly because of his worldwide fame along with his highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had a personal agenda that involved promoting his publications and experimenting with his economic models using the nation instead of truly fighting for the country's economic stability.
He wrote how the negotiations to avoid insolvency became “not only a method to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously close to leaving the eurozone.
On the line was not only Greece's future but also the punishing austerity policies demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move that plunged the EU into further crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were pushing for Grexit.
The account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
