Within his freshly published memoir, named Ithaki, the former prime minister Tsipras pulls no punches while he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he selected the maverick economist Varoufakis to be the treasury head largely because of his global profile along with his highly compelling skills as a public orator.
“He was, actually, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications and testing out his theories on Greece instead of genuinely advocating its economic stability.
Tsipras explained that the talks to stave off insolvency were “not just a way to secure a better deal for Greece. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
At stake was not only the country's future and those harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that threw the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
He further wrote that his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
The account of history has been met with anger along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
