Within his newly released personal account, titled Ithaki, the ex- premier Tsipras pulls no punches while he examines that chaotic period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister largely because of the latter's global profile along with his highly compelling skills as a communicator.
“He was, actually, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had a personal motives that involved advancing Varoufakis's publications as well as experimenting with his game theories on Greece rather than truly advocating its economic stability.
Tsipras noted how those negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake lay not only Greece's future and those harsh austerity measures required in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which threw the EU into further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, the leader knew it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote that his aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
