In a freshly published memoir, named Ithaki, the former leader Tsipras does not hold back as he reflects on the chaotic era of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, Tsipras appointed that maverick economist Varoufakis as the treasury head mainly due to the latter's international reputation along with his “extremely attractive” abilities as a public orator.
“In reality, he was, actually, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis had a personal motives which involved promoting his books and experimenting with his economic models on Greece instead of truly advocating the country's economic stability.
Tsipras wrote how the negotiations to stave off insolvency were “not only a way to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay both the country's destiny but also those severe austerity policies required in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a public vote, a move which plunged the EU into deeper existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also wrote how his confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
