Within his newly released autobiography, called Ithaki, the former premier Tsipras does not hold back while he revisits that chaotic era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, he appointed that unorthodox economist Varoufakis as the treasury head primarily because of the latter's international reputation and his highly compelling skills as a communicator.
“He was, actually, more of a star and less of an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal motives that involved promoting Varoufakis's publications as well as testing out his own economic models on the nation rather than genuinely advocating its financial survival.
Tsipras wrote how the discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake was not only the country's destiny and those harsh austerity measures required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action that plunged Europe into further existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency and issuing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate handling.”
He also wrote how his aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
