In a newly released memoir, called Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, he selected that unorthodox economist Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“He was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had a personal motives which involved promoting Varoufakis's publications and testing out his economic models using the nation rather than genuinely advocating its economic stability.
He wrote that those negotiations to avoid bankruptcy became “not just a way to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake lay both the country's destiny and the harsh austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a public vote, a move which plunged Europe into a deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, Tsipras had little option to ignore the result then negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing coupons to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further claimed that his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
The retelling of events has provoked anger along with shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
