In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras pulls no punches as he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose that unorthodox academic Varoufakis as his treasury head mainly due to his global profile along with his “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda which involved promoting his books as well as testing out his own economic models using Greece rather than genuinely fighting for its financial survival.
Tsipras wrote how the talks to prevent insolvency became “not only a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay not only the country's destiny and those harsh cutbacks demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper existential crisis.
Although the vote was won decisively by those who opposed the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He further claimed how his confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
