Within his newly released personal account, named Ithaki, the ex- premier Tsipras does not hold back while he revisits that turbulent period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed the unorthodox economist Varoufakis as his finance minister primarily due to the latter's global profile and his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had his own agenda that involved promoting his books and testing out his theories on the nation instead of truly advocating its economic stability.
Tsipras wrote that those talks to stave off bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense discussions, the country found itself perilously close to exiting the single currency area.
At stake was both Greece's future and the punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were put to a popular referendum, an action which plunged the EU into a further crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras was forced but to ignore the result and agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, the leader knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
