Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras does not hold back while he revisits the chaotic era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras chose that maverick academic Varoufakis to be his treasury head largely due to his global profile along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda that involved advancing his publications and testing out his theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras explained how those talks to prevent insolvency became “not only a way of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously close to exiting the eurozone.
At stake lay both the country's destiny but also those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a public vote, an action that threw Europe into a further existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
