Within his newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis as the treasury head mainly due to his worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, in reality, more of a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal motives which included promoting his publications as well as testing out his theories using Greece instead of truly fighting for its financial survival.
He noted how those talks to prevent bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came dangerously close to leaving the single currency area.
On the line was not only Greece's destiny but also the severe cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Although the vote was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with creditors that proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
He also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The retelling of history has been met with fury and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
