In a recently unveiled memoir, titled Ithaki, the former prime minister Tsipras does not hold back while he reflects on the chaotic period of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, he appointed the maverick economist Varoufakis to be his treasury head primarily due to the latter's worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal motives which included promoting his books and experimenting with his theories using Greece rather than genuinely fighting for its economic stability.
He explained that the discussions to prevent bankruptcy were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to prove the truth of his economic theories.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was not only the country's future but also those severe austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the harsh bailout terms were put to a public vote, a move which threw Europe into a deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further claimed how his aggressive style made him more and more alone among peers, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
