In a recently unveiled personal account, named Ithaki, the former leader Tsipras does not hold back while he examines that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras selected the maverick academic Varoufakis to be his finance minister primarily because of the latter's international reputation and his “extremely attractive” abilities as a communicator.
“In reality, he was, actually, more like a personality rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed a personal agenda which included promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than genuinely advocating its financial survival.
He explained that those talks to avoid bankruptcy were “not only a method of achieving a better deal for the country. They became a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay both Greece's destiny but also those severe cutbacks required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the referendum was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result and agree to a bailout package with creditors which proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency and issuing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
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.
