Within his newly released memoir, named Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, he appointed that unorthodox academic Varoufakis to be the treasury head mainly due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives which included advancing Varoufakis's books as well as testing out his theories using the nation rather than genuinely advocating its financial survival.
He noted that the talks to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny and the harsh austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were put to a popular referendum, a move that threw the EU into further existential crisis.
Although the vote was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
