Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, Tsipras selected the unorthodox economist Varoufakis to be the finance minister largely because of his worldwide fame and his highly compelling skills as a public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed a personal agenda that involved promoting Varoufakis's publications and experimenting with his own game theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line was both the country's destiny and the punishing austerity policies required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action which threw Europe into a further existential crisis.
Although the vote was won resoundingly by those against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with anger and shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
