Within his newly released memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines that turbulent period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis as the finance minister largely due to the latter's global profile along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives that included promoting Varoufakis's publications as well as testing out his own game theories using the nation instead of genuinely advocating the country's financial survival.
He wrote that those talks to avoid bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During tense discussions, Greece came perilously close to exiting the single currency area.
At stake lay both Greece's future but also the punishing austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, an action that threw Europe into deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
He also claimed that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
