Within his freshly published personal account, named Ithaki, the ex- premier Tsipras does not hold back as he examines the chaotic era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras appointed the maverick economist Varoufakis as the treasury head primarily because of the latter's international reputation along with his “extremely attractive” skills as a speaker.
“He was, actually, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis possessed his own agenda that included advancing his books and experimenting with his own theories on the nation instead of truly advocating the country's economic stability.
Tsipras noted that those discussions to avoid insolvency were “not just a way to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During tense negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny and the severe austerity measures demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a public vote, an action which plunged Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency and distributing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal that required complex and delicate handling.”
He also wrote that Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating Grexit.
This account of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
