In a freshly published personal account, named Ithaki, the ex- premier Tsipras pulls no punches while he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he selected the maverick academic Varoufakis to be the finance minister largely because of his international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal agenda which involved advancing Varoufakis's books and experimenting with his theories using the nation instead of truly fighting for the country's financial survival.
He noted how the talks to avoid bankruptcy were “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was both the country's future and those harsh cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move which plunged the EU into a further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate handling.”
He further wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, and helped hawks that were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
