Within his recently unveiled personal account, named Ithaki, the ex- premier Tsipras does not hold back as he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras chose the maverick economist Varoufakis to be his finance minister mainly because of his international reputation along with Varoufakis's very persuasive skills as a public orator.
“He was, truthfully, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda which involved promoting his publications and testing out his economic models on the nation rather than truly fighting for the country's economic stability.
Tsipras noted how those discussions to stave off insolvency became “not just a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
On the line was both Greece's future but also the severe cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate plea to Russia to buy Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh conditions were put to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, and helped hawks that were advocating Grexit.
This retelling of events has provoked fury and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
