Within his recently unveiled personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he selected the unorthodox economist Varoufakis to be his finance minister primarily due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis possessed his own agenda that involved advancing his publications as well as experimenting with his own game theories using the nation instead of truly advocating its economic stability.
Tsipras wrote how those discussions to stave off insolvency became “not just a way to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's future but also those harsh austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move that threw Europe into further crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
