Within his recently unveiled memoir, named Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on the turbulent period during Greece's debt drama.
A Controversial Choice
In Tsipras's version, he selected that unorthodox economist Varoufakis to be his treasury head mainly because of his international reputation and his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives which involved advancing his books as well as testing out his own economic models using Greece instead of truly advocating the country's economic stability.
Tsipras noted that the negotiations to stave off insolvency became “not just a method to secure a better deal for the country. They became an experiment, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously on the brink of leaving the single currency area.
At stake was not only Greece's destiny but also the punishing cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged Europe into a further crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
He also wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
