Within his freshly published personal account, named Ithaki, the ex- premier Tsipras spares no criticism while he examines the chaotic period during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief had his own motives that included advancing Varoufakis's books and testing out his theories on Greece rather than genuinely advocating its economic stability.
He noted how those discussions to avoid bankruptcy became “not just a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During tense negotiations, the country came dangerously close to exiting the eurozone.
At stake lay not only Greece's destiny but also those severe austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into further crisis of identity.
Although the vote was won resoundingly by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
