Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras does not hold back while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras selected the maverick academic Varoufakis to be the treasury head mainly due to his worldwide fame along with his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives which involved advancing Varoufakis's publications as well as testing out his own game theories on Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained how the negotiations to stave off insolvency became “not just a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
On the line was not only the country's future but also the punishing austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the vote was won resoundingly by those against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras further wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
