Within his recently unveiled memoir, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he selected that maverick academic Varoufakis to be the finance minister primarily because of his worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“He was, in reality, more of a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had his own agenda that involved promoting his books and experimenting with his own game theories on Greece instead of truly advocating the country's economic stability.
He wrote that those talks to avoid bankruptcy were “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was both the country's future but also the harsh austerity measures demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of history has been met with fury and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
