In a newly released memoir, named Ithaki, the ex- leader Tsipras spares no criticism as he examines that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis as the treasury head largely due to his international reputation along with his highly compelling abilities as a public orator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims that his finance chief had his own motives which involved advancing his publications and testing out his game theories on the nation rather than genuinely advocating its financial survival.
He wrote that those discussions to stave off insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny but also those severe cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the vote was carried resoundingly by those against austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and sensitive management.”
He also wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
This account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
