In a newly released memoir, called Ithaki, the former premier Tsipras pulls no punches as he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he selected the unorthodox economist Varoufakis as the finance minister mainly because of his international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“He was, truthfully, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda that included advancing Varoufakis's books and testing out his game theories using the nation rather than genuinely advocating the country's financial survival.
He explained how those discussions to stave off insolvency became “not just a way to secure a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country found itself perilously on the brink of exiting the single currency area.
On the line lay both Greece's future but also the punishing cutbacks required in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
Tsipras further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
