In a newly released memoir, titled Ithaki, the former premier Tsipras spares no criticism while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he selected that unorthodox academic Varoufakis as the finance minister primarily due to his global profile along with Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had his own agenda which involved promoting his books and experimenting with his own theories using the nation instead of truly fighting for its financial survival.
Tsipras explained that those discussions to avoid bankruptcy became “not just a way to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake lay both the country's destiny and those harsh austerity measures demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move that threw Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
