Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras does not hold back as he reflects on that turbulent period of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis as the finance minister largely due to the latter's global profile and his very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had a personal agenda which involved advancing Varoufakis's publications and experimenting with his theories on the nation instead of genuinely advocating its economic stability.
He noted that the talks to stave off insolvency were “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid tense discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny but also those punishing austerity policies demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author concludes that his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and helped hardliners who were advocating Grexit.
This retelling of history has provoked anger along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
