Within his recently unveiled memoir, titled Ithaki, the ex- leader Tsipras pulls no punches as he revisits that turbulent period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, Tsipras selected the unorthodox economist Varoufakis as the finance minister primarily because of his worldwide fame along with his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests how his finance chief possessed a personal agenda that included advancing his publications as well as testing out his own economic models using Greece instead of genuinely fighting for its financial survival.
Tsipras explained how those talks to stave off bankruptcy became “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only Greece's destiny but also the severe austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with fury along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
