In a freshly published memoir, named Ithaki, the former prime minister Tsipras does not hold back while he revisits the chaotic era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he chose that maverick economist Varoufakis to be the finance minister largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed a personal agenda that involved promoting his publications and experimenting with his economic models on the nation rather than genuinely advocating the country's economic stability.
Tsipras noted how the discussions to stave off bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was not only Greece's future but also the punishing cutbacks demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, the excoriating bailout terms were subjected to a public vote, a move that plunged Europe into deeper existential crisis.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
