Within his freshly published autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he reflects on that chaotic period of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, Tsipras chose that maverick academic Varoufakis as his treasury head mainly because of his international reputation along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had his own motives that involved advancing his publications and testing out his game theories on the nation rather than truly advocating its economic stability.
Tsipras explained that those negotiations to stave off insolvency became “not only a method to secure a better deal for the country. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously close to leaving the eurozone.
On the line was both Greece's destiny and those punishing austerity measures required in return for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the punitive conditions were subjected to a public vote, an action which threw the EU into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how his aggressive approach made him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This retelling of events has provoked anger along with shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
