Within his newly released personal account, named Ithaki, the former prime minister Tsipras pulls no punches as he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, he chose the maverick academic Varoufakis to be the finance minister largely because of his international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a personality rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal agenda that included advancing Varoufakis's books as well as testing out his theories on the nation rather than truly advocating the country's economic stability.
He noted that those negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself dangerously close to exiting the single currency area.
On the line was not only the country's future but also the severe austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, an action which threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by those against austerity, Tsipras was forced to ignore the result and negotiate a bailout package from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This retelling of history has provoked anger along with shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
