Within his recently unveiled memoir, named Ithaki, the former prime minister Tsipras does not hold back while he examines that chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that maverick academic Varoufakis as his finance minister largely due to the latter's international reputation along with his highly compelling abilities when it came to communicator.
“He was, in reality, more of a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis had his own motives which included promoting Varoufakis's books and testing out his game theories on Greece rather than truly advocating its economic stability.
Tsipras noted how the negotiations to prevent bankruptcy became “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During tense negotiations, the country found itself dangerously close to leaving the eurozone.
At stake lay both Greece's future and those harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
