Within his freshly published memoir, called Ithaki, the ex- leader Tsipras pulls no punches while he revisits the chaotic era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, he appointed that maverick economist Varoufakis to be the finance minister primarily due to his international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how his finance chief had his own agenda which included promoting his publications and testing out his game theories using Greece rather than truly advocating its financial survival.
He noted that those negotiations to stave off bankruptcy were “not only a way to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay both the country's future and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
