In a freshly published personal account, named Ithaki, the former leader Tsipras does not hold back while he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed that unorthodox academic Varoufakis to be his finance minister primarily due to his global profile and Varoufakis's very persuasive skills when it came to speaker.
“He was, in reality, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own agenda that included advancing his books as well as testing out his own theories using the nation instead of truly advocating the country's economic stability.
He wrote how the negotiations to avoid insolvency were “not only a way of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
During tense discussions, Greece found itself dangerously close to exiting the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action that plunged the EU into further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, the leader knew that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has provoked anger along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
