Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras does not hold back while he revisits that chaotic period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras appointed that unorthodox economist Varoufakis as the finance minister mainly because of his worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own motives that included advancing Varoufakis's publications and experimenting with his economic models using the nation instead of truly fighting for the country's financial survival.
He noted that those talks to stave off insolvency were “not just a method of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's future and the harsh austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move which plunged the EU into deeper crisis of identity.
Although the vote was won decisively by voters against austerity, Tsipras was forced to ignore the result and agree to a bailout package with foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how his former ally demonstrated himself “unfit for a deal that required intricate and sensitive management.”
He also claimed how Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
