Within his freshly published memoir, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines that chaotic period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis as his treasury head largely due to his global profile along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had a personal agenda that included advancing his publications as well as testing out his theories using the nation instead of truly fighting for its economic stability.
He noted that those discussions to avoid insolvency were “not only a method of achieving improved terms for Greece. They became a test, an historic chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously close to leaving the eurozone.
On the line lay both the country's destiny and the punishing austerity measures required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action which plunged Europe into further existential crisis.
Although the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He also wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
The account of events has been met with anger along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
