In a newly released memoir, called Ithaki, the ex- prime minister Tsipras does not hold back while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he selected that unorthodox academic Varoufakis as the treasury head mainly due to the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“He was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis had a personal agenda which included advancing Varoufakis's books as well as testing out his game theories on the nation instead of genuinely advocating its financial survival.
Tsipras noted that the discussions to stave off bankruptcy became “not only a method to secure a better deal for the country. They became a test, an historic chance to prove the validity of his theories.”
Critical Talks
During volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and the harsh austerity policies required in return for rescue loans from international creditors.
Failed Options
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were put to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
