In a newly released memoir, called Ithaki, the ex- premier Tsipras does not hold back while he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras selected that unorthodox economist Varoufakis to be the treasury head largely because of the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda which involved promoting his books and testing out his own theories using Greece instead of truly fighting for the country's economic stability.
He noted that the discussions to prevent insolvency were “not only a way to secure improved terms for the country. They were a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
On the line lay both Greece's destiny but also those severe austerity measures required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into further crisis of identity.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, the leader knew it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed how his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
