In a recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras does not hold back while he revisits the turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected that maverick academic Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how his finance chief had a personal motives that included advancing his publications and experimenting with his game theories using Greece instead of genuinely advocating the country's economic stability.
He noted how the negotiations to avoid insolvency became “not just a way to secure a better deal for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both the country's destiny but also the harsh austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package with creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
He also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
This account of history has been met with anger and shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
