In a newly released memoir, titled Ithaki, the ex- premier Tsipras does not hold back as he revisits that chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras selected the maverick economist Varoufakis as the finance minister primarily due to the latter's international reputation and his highly compelling skills when it came to communicator.
“He was, in reality, more like a celebrity and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda that involved advancing his publications as well as experimenting with his game theories on the nation instead of truly fighting for its financial survival.
He noted that the talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's destiny but also those harsh austerity measures required in exchange for bailout funds by international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras was forced to reject its outcome and negotiate a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive management.”
Tsipras further claimed that his aggressive style left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of history has provoked anger and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
