Within his newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he appointed that unorthodox economist Varoufakis to be the finance minister largely due to his global profile along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives that included promoting his books as well as testing out his economic models on the nation rather than genuinely fighting for its economic stability.
Tsipras explained that the talks to prevent bankruptcy became “not only a method of achieving improved terms for the country. They were a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously close to exiting the single currency area.
On the line was not only the country's future and the harsh austerity measures required in return for financial aid from international creditors.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, a move which plunged the EU into further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further wrote that his confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
