Within his newly released personal account, named Ithaki, the ex- premier Tsipras pulls no punches while he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, he selected the unorthodox economist Varoufakis as the treasury head primarily due to the latter's international reputation along with his “extremely attractive” abilities as a communicator.
“He was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal agenda which involved advancing Varoufakis's books as well as testing out his game theories using the nation instead of genuinely advocating the country's financial survival.
He wrote that the discussions to avoid bankruptcy became “not just a method to secure a better deal for the country. They were a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, the country found itself perilously close to exiting the single currency area.
At stake was both Greece's destiny and the severe cutbacks required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action that threw Europe into a further existential crisis.
Although the vote was won decisively by those who opposed austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras also wrote that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
This account of history has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
