In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he examines the turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed that maverick economist Varoufakis to be the treasury head mainly due to the latter's international reputation along with his highly compelling skills when it came to public orator.
“He was, in reality, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal motives that involved promoting Varoufakis's publications and testing out his economic models using the nation instead of genuinely fighting for the country's economic stability.
Tsipras explained how those discussions to avoid insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of his economic theories.”
Critical Talks
Amid tense discussions, the country came perilously close to exiting the eurozone.
At stake lay both the country's destiny and the severe cutbacks demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the harsh conditions were subjected to a public vote, a move that threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unfit for a deal that required intricate and delicate handling.”
He further wrote that his aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
