Within his newly released autobiography, titled Ithaki, the ex- premier Tsipras does not hold back as he examines that chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, he selected the maverick economist Varoufakis as his finance minister primarily due to his global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, in reality, more of a personality rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief had a personal agenda which involved promoting Varoufakis's books and testing out his game theories using Greece rather than genuinely advocating its economic stability.
He explained that the talks to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both Greece's destiny but also those severe austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras was forced to ignore the result and agree to a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
