Within his freshly published memoir, named Ithaki, the former leader Tsipras pulls no punches while he revisits the chaotic era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as the treasury head mainly because of his international reputation along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis had a personal motives that involved promoting Varoufakis's books as well as experimenting with his own game theories using Greece rather than genuinely fighting for its economic stability.
Tsipras noted that the negotiations to prevent bankruptcy were “not only a method to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line was not only Greece's future but also those severe cutbacks demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that threw the EU into a further existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
