Within his newly released personal account, called Ithaki, the former prime minister Tsipras pulls no punches while he reflects on that chaotic era during Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, he appointed the unorthodox economist Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had a personal agenda which included advancing his publications as well as testing out his game theories using the nation instead of truly fighting for the country's financial survival.
He wrote that those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid tense discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future but also the severe austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which threw Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome and agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed that his confrontational approach left him more and more alone among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This account of history has been met with fury and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
