Within his newly released personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he revisits the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras chose the unorthodox academic Varoufakis to be his treasury head largely due to the latter's global profile along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own motives that involved promoting his publications and experimenting with his economic models on the nation rather than genuinely advocating the country's economic stability.
He explained that those negotiations to stave off insolvency became “not only a way of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
At stake was not only Greece's future and the severe cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were put to a popular referendum, an action that plunged the EU into a further crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras was forced but to ignore the result and agree to a bailout package with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
