Within his newly released personal account, called Ithaki, the former prime minister Tsipras pulls no punches as he examines the turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his treasury head primarily due to the latter's global profile and his “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives which included promoting Varoufakis's books as well as testing out his economic models using the nation instead of truly advocating its financial survival.
Tsipras wrote how the talks to avoid insolvency became “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only the country's future and the severe austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how his confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
