Within his freshly published memoir, named Ithaki, the former leader Tsipras does not hold back as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's account, he chose that unorthodox economist Varoufakis to be the treasury head mainly due to his worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal agenda which included promoting his publications and testing out his own theories on the nation instead of truly fighting for the country's financial survival.
Tsipras noted that those negotiations to stave off bankruptcy became “not just a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.
At stake was not only Greece's destiny but also those severe cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
He further claimed how his confrontational approach left him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
