In a newly released memoir, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that turbulent period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, Tsipras selected that unorthodox academic Varoufakis as his finance minister mainly because of the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal agenda which involved advancing Varoufakis's publications and experimenting with his own theories on the nation rather than truly fighting for its financial survival.
Tsipras wrote how those negotiations to stave off insolvency became “not just a way to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his economic theories.”
Critical Talks
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only Greece's destiny and those punishing austerity policies demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those harsh conditions were put to a public vote, an action that threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
He further wrote how his aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
This account of history has been met with anger and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
