Within his newly released personal account, called Ithaki, the former leader Tsipras pulls no punches as he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis to be his finance minister mainly due to the latter's global profile and Varoufakis's very persuasive skills when it came to speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own agenda that involved promoting his books and testing out his own theories using the nation rather than truly advocating the country's economic stability.
Tsipras noted how those negotiations to prevent insolvency became “not just a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece came dangerously close to exiting the eurozone.
At stake was not only the country's destiny and those punishing austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action that plunged Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result then agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the book, the author asserts how his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras further wrote how his aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
