In a freshly published personal account, called Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the turbulent period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, Tsipras selected the maverick economist Varoufakis as the finance minister largely because of the latter's international reputation and his highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal agenda that involved advancing his publications as well as experimenting with his own economic models on the nation rather than truly advocating the country's financial survival.
He wrote that the talks to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny but also those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He further claimed that his confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
