Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, Tsipras appointed the unorthodox academic Varoufakis as the finance minister primarily because of his worldwide fame and his highly compelling skills when it came to public orator.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had a personal motives which included advancing his publications as well as experimenting with his own economic models using Greece rather than truly fighting for the country's economic stability.
Tsipras noted that the discussions to avoid insolvency became “not only a way to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously close to exiting the eurozone.
At stake was not only the country's destiny but also the severe austerity policies required in return for rescue loans by foreign lenders.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, a move that plunged the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
He further wrote how his confrontational approach left him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
