Within his newly released memoir, called Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, Tsipras selected the maverick academic Varoufakis to be his finance minister largely due to his worldwide fame and his very persuasive abilities when it came to communicator.
“He was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis had his own motives that involved advancing his publications as well as testing out his own theories on Greece rather than truly fighting for its economic stability.
Tsipras wrote how the discussions to stave off insolvency became “not just a method of achieving a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake was not only the country's destiny but also those punishing austerity measures required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were put to a popular referendum, an action which threw the EU into a deeper existential crisis.
Although the referendum was won resoundingly by voters against the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
He further claimed that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
