Within his newly released memoir, titled Ithaki, the former premier Tsipras does not hold back as he examines the turbulent period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras chose that unorthodox academic Varoufakis to be his finance minister largely because of his international reputation along with his highly compelling skills as a speaker.
“He was, truthfully, more of a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader claims that his finance chief possessed a personal agenda that included promoting Varoufakis's books as well as testing out his theories on the nation rather than truly advocating its financial survival.
He noted that the talks to prevent bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both the country's future and those harsh austerity policies required in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were put to a popular referendum, a move that threw the EU into deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed how his aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
