Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras chose the unorthodox economist Varoufakis as his treasury head largely due to his international reputation and his “extremely attractive” abilities when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives which included promoting his publications as well as testing out his own economic models using the nation instead of genuinely advocating the country's financial survival.
He noted how the negotiations to avoid bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his theories.”
High-Stakes Negotiations
During tense negotiations, Greece came perilously close to exiting the eurozone.
At stake lay not only the country's future and those punishing cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, a move which plunged Europe into further crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed how his aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of history has been met with anger along with shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
