Within his newly released personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he examines the turbulent period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, he selected that unorthodox academic Varoufakis to be his finance minister mainly because of the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had a personal agenda which involved promoting Varoufakis's books as well as experimenting with his own game theories on Greece rather than truly fighting for its economic stability.
Tsipras explained that those negotiations to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
During tense negotiations, Greece found itself perilously close to exiting the eurozone.
On the line was not only Greece's destiny and those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action which threw Europe into a further crisis of identity.
Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result and agree to a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras also wrote how his confrontational style made him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
