In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose that unorthodox academic Varoufakis to be the treasury head primarily because of the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal motives which involved promoting his publications and testing out his theories on the nation instead of genuinely fighting for its economic stability.
He noted how the talks to avoid insolvency were “not just a way of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny and the punishing austerity measures required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, an action that threw the EU into further existential crisis.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras also wrote that his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
