Within his freshly published personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, Tsipras selected the maverick economist Varoufakis as his finance minister primarily due to his worldwide fame along with his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis had a personal motives that included promoting his publications and testing out his own theories using the nation instead of truly fighting for the country's financial survival.
Tsipras explained how those talks to prevent insolvency were “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously close to leaving the eurozone.
At stake lay not only the country's future but also those punishing cutbacks required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal with creditors that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
He also claimed that his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
This retelling of events has provoked anger and shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
