Within his newly released memoir, named Ithaki, the ex- premier Tsipras does not hold back while he reflects on that turbulent era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, he chose that unorthodox economist Varoufakis to be his treasury head mainly due to his international reputation along with his highly compelling abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis possessed his own agenda which included promoting his books as well as experimenting with his theories using the nation rather than truly fighting for the country's economic stability.
Tsipras wrote how the negotiations to prevent insolvency became “not just a method to secure improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece came perilously close to leaving the single currency area.
On the line was both Greece's destiny but also those severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras also wrote that his aggressive style made him more and more alone among peers, endangered the country, and helped hardliners who were advocating Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
