In a newly released memoir, named Ithaki, the ex- premier Tsipras pulls no punches while he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis as the finance minister largely due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more like a star rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had a personal agenda that included advancing his books as well as testing out his own theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras noted that the discussions to stave off insolvency became “not just a method of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
On the line lay both Greece's future and the harsh cutbacks required in return for financial aid by foreign lenders.
Failed Options
Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for Grexit.
The account of history has provoked anger along with shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
