Within his freshly published memoir, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on the turbulent period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that maverick academic Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with his “extremely attractive” skills as a public orator.
“He was, truthfully, more like a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief had his own agenda that involved advancing his books and experimenting with his game theories using the nation instead of truly advocating the country's financial survival.
Tsipras explained that the discussions to avoid bankruptcy became “not just a method to secure a better deal for the country. They were a test, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay both the country's future and the punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras further claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
