Within his newly released memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent era of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose that unorthodox economist Varoufakis as the treasury head largely due to his international reputation and Varoufakis's very persuasive skills as a speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed a personal motives which included advancing his books as well as experimenting with his economic models using the nation rather than genuinely fighting for the country's economic stability.
Tsipras wrote how those negotiations to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During tense negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and the severe austerity measures required in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader knew it was the end and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also wrote how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked anger and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
