Within his freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, Tsipras appointed the unorthodox academic Varoufakis to be the treasury head largely due to the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda which involved advancing his books as well as testing out his own theories using Greece rather than genuinely advocating its financial survival.
Tsipras noted how the negotiations to avoid bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
At stake was both Greece's future but also those harsh austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, a move that plunged Europe into a further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister was forced but to ignore the result and agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also claimed that his aggressive style left him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
