Within his recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he appointed the unorthodox economist Varoufakis to be his treasury head mainly due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had a personal motives which involved advancing Varoufakis's books as well as experimenting with his economic models on the nation rather than genuinely fighting for its economic stability.
Tsipras explained that the discussions to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
Amid tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's future but also those punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger and shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
