In a freshly published memoir, called Ithaki, the ex- leader Tsipras does not hold back as he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras selected that unorthodox academic Varoufakis as his finance minister largely due to his global profile along with Varoufakis's very persuasive abilities as a speaker.
“He was, truthfully, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had his own motives that included promoting Varoufakis's books as well as testing out his own theories on the nation instead of truly advocating the country's financial survival.
He noted that the discussions to prevent insolvency became “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously close to leaving the eurozone.
On the line lay both the country's future and the harsh cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into deeper existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result then agree to a bailout package with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also wrote how his aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
