Within his newly released personal account, called Ithaki, the former leader Tsipras does not hold back while he examines that chaotic era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis as the treasury head primarily due to his worldwide fame and his very persuasive skills when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had his own motives which involved advancing Varoufakis's publications as well as experimenting with his own economic models on the nation instead of genuinely fighting for its economic stability.
Tsipras wrote that the discussions to stave off insolvency were “not just a method to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During tense discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay both the country's future but also the punishing cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the excoriating bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He further claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
