In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits that chaotic period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister largely due to the latter's international reputation and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief had his own motives that involved advancing his books as well as experimenting with his theories using the nation rather than truly fighting for the country's financial survival.
Tsipras noted that the talks to avoid insolvency became “not only a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
At stake was both the country's future and the punishing austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which threw the EU into a deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras also wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating Grexit.
The retelling of history has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
