In a newly released memoir, named Ithaki, the ex- leader Tsipras does not hold back as he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras selected the unorthodox academic Varoufakis to be his treasury head mainly due to the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed his own motives that included advancing Varoufakis's books as well as testing out his own theories on Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote how the discussions to stave off insolvency became “not only a method of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, the country came perilously close to leaving the eurozone.
On the line was both Greece's destiny and the harsh cutbacks demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Although the vote was won decisively by those who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author concludes that his former ally demonstrated himself “unfit for a deal demanding complex and sensitive management.”
He also claimed how his aggressive approach left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of history has been met with anger and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
