In a freshly published memoir, titled Ithaki, the former premier Tsipras pulls no punches as he examines that chaotic era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis to be his finance minister primarily because of the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal agenda which involved promoting his books as well as testing out his economic models on the nation rather than genuinely fighting for its financial survival.
Tsipras wrote that the negotiations to avoid insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay both Greece's future and those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move that threw Europe into a further existential crisis.
Even though the referendum was won decisively by those against austerity, Tsipras had little option but to ignore the result then agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He further wrote how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
