Within his newly released memoir, called Ithaki, the former premier Tsipras does not hold back as he revisits that turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he selected that unorthodox academic Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“He was, truthfully, more like a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed a personal agenda which involved advancing his publications as well as testing out his own theories using the nation rather than truly advocating its financial survival.
Tsipras noted how those discussions to avoid bankruptcy were “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was not only the country's future but also those punishing cutbacks required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action that threw Europe into further existential crisis.
Although the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
He further wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of history has been met with anger along with shock in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
