Within his newly released personal account, titled Ithaki, the former leader Tsipras pulls no punches while he examines the turbulent period of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he chose the unorthodox economist Varoufakis as his treasury head mainly due to the latter's global profile and Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief possessed a personal agenda that involved promoting Varoufakis's books and experimenting with his theories on the nation rather than truly advocating its economic stability.
He noted how the talks to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny but also those punishing cutbacks required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and issuing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras further claimed that his aggressive style left him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
