Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the chaotic era during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, Tsipras selected the unorthodox economist Varoufakis as the treasury head primarily due to the latter's global profile along with his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives that included advancing his books as well as testing out his economic models using Greece instead of truly advocating its economic stability.
He noted how the discussions to stave off insolvency were “not just a method of achieving improved terms for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line was both the country's destiny and the harsh austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Although the vote was won decisively by voters against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account of history has been met with fury along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
