Within his recently unveiled memoir, named Ithaki, the ex- leader Tsipras does not hold back while he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, he selected the unorthodox academic Varoufakis to be his treasury head mainly because of his worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own motives which involved advancing Varoufakis's publications as well as experimenting with his game theories using the nation rather than truly fighting for the country's economic stability.
He noted how those discussions to stave off bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny but also the punishing cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes how Varoufakis had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The retelling of history has provoked anger along with shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
