Within his recently unveiled memoir, called Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits that turbulent period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's account, Tsipras appointed that maverick academic Varoufakis as his finance minister largely because of the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal motives which included advancing Varoufakis's publications and testing out his theories using Greece instead of truly advocating the country's economic stability.
He noted that the discussions to prevent insolvency were “not only a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid volatile discussions, the country found itself perilously close to exiting the eurozone.
At stake lay not only the country's destiny but also the punishing cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
