Within his newly released memoir, named Ithaki, the former prime minister Tsipras does not hold back as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he selected the unorthodox academic Varoufakis to be the finance minister primarily due to the latter's global profile and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims how his finance chief possessed a personal motives that included promoting his books and experimenting with his theories on Greece rather than genuinely advocating its financial survival.
He explained how those discussions to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both the country's destiny and those severe austerity policies demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Even though the vote was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate management.”
Tsipras also claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
This account of history has been met with fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
