Within his newly released personal account, titled Ithaki, the former premier Tsipras pulls no punches as he examines the chaotic period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he appointed that unorthodox academic Varoufakis as his finance minister mainly because of the latter's worldwide fame and Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims that his finance chief possessed his own agenda which involved advancing Varoufakis's publications and testing out his economic models using the nation instead of truly fighting for its financial survival.
Tsipras wrote how the talks to avoid insolvency were “not just a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country found itself perilously close to exiting the eurozone.
On the line lay not only Greece's destiny and the severe cutbacks required in return for financial aid by international creditors.
Failed Options
Efforts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was game over and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
