In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back while he examines that turbulent period of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, he selected that unorthodox academic Varoufakis to be the treasury head largely because of his global profile along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had his own motives that included advancing his publications as well as testing out his own theories using Greece instead of genuinely fighting for its economic stability.
Tsipras noted how the talks to prevent insolvency became “not only a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During tense negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line was both Greece's destiny but also the punishing austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Even though the referendum was won decisively by voters against austerity, Tsipras had little option but to reject its outcome and negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
