Within his recently unveiled personal account, named Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the chaotic era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed the maverick economist Varoufakis to be the treasury head largely because of his international reputation along with his “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had his own motives that involved advancing his books as well as testing out his theories using Greece instead of truly advocating its economic stability.
He noted how the discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
At stake lay not only the country's future and the harsh austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that threw Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of events has been met with anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
