Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras pulls no punches while he reflects on the turbulent period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he appointed that maverick economist Varoufakis as the treasury head mainly because of the latter's global profile and Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had his own agenda which involved advancing Varoufakis's publications and testing out his theories on Greece instead of truly advocating the country's economic stability.
He noted that the talks to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously close to exiting the eurozone.
On the line was not only Greece's future but also the punishing austerity measures required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw the EU into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister had little option to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed how his aggressive style made him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
This account of events has been met with anger along with shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
