Within his newly released memoir, called Ithaki, the ex- prime minister Tsipras does not hold back while he revisits the chaotic era during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, Tsipras appointed the maverick economist Varoufakis as his finance minister mainly due to the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had a personal agenda which involved promoting his books as well as testing out his own theories using the nation instead of genuinely fighting for the country's economic stability.
Tsipras wrote how those negotiations to prevent insolvency became “not just a way to secure a better deal for Greece. They became an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece came perilously close to exiting the single currency area.
On the line was not only Greece's future and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
