Within his recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras does not hold back as he examines the turbulent era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, he selected that unorthodox economist Varoufakis as the finance minister mainly because of his international reputation along with his “extremely attractive” abilities as a public orator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had his own motives which involved advancing his books as well as testing out his own game theories on Greece rather than genuinely fighting for the country's economic stability.
Tsipras explained that those negotiations to prevent insolvency became “not only a way to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's destiny but also the harsh cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the punitive bailout terms were subjected to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the vote was carried decisively by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
