In a freshly published personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that turbulent era during Greece's debt drama.
A Controversial Appointment
In Tsipras's account, Tsipras appointed that maverick economist Varoufakis as his finance minister primarily due to the latter's global profile along with his very persuasive abilities when it came to speaker.
“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had a personal motives that involved advancing his books and experimenting with his game theories on the nation rather than truly advocating the country's financial survival.
He noted that the negotiations to avoid bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay both Greece's destiny and the punishing cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a popular referendum, an action which plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
