Within his recently unveiled memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras chose the unorthodox academic Varoufakis as the finance minister largely due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis possessed his own motives that included advancing Varoufakis's books and testing out his economic models on Greece instead of truly fighting for its economic stability.
Tsipras noted how the discussions to avoid bankruptcy were “not just a method to secure a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During volatile negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the harsh cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally demonstrated himself “unfit for a deal that required complex and delicate handling.”
He also claimed how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
