In a freshly published memoir, named Ithaki, the former leader Tsipras pulls no punches while he revisits that chaotic era of Greece's debt drama.
An Unconventional Choice
In Tsipras's version, he chose the maverick academic Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives which included advancing his publications and experimenting with his theories using the nation instead of truly fighting for the country's financial survival.
He noted how the discussions to avoid bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
During tense discussions, the country found itself perilously close to exiting the eurozone.
On the line was both the country's future and the severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, a move which plunged the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, the leader knew that it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of history has provoked anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
