Within his newly released memoir, named Ithaki, the ex- premier Tsipras pulls no punches as he revisits that turbulent era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis to be the treasury head mainly due to the latter's global profile along with his highly compelling skills as a public orator.
“In reality, he was, truthfully, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed a personal motives which involved promoting Varoufakis's books and experimenting with his own theories using the nation rather than genuinely fighting for its financial survival.
He wrote that those talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
At stake was not only Greece's destiny but also those severe austerity policies required in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the punitive conditions were subjected to a public vote, a move which plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“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 his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author asserts how Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
This account of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
