In a freshly published memoir, named Ithaki, the ex- premier Tsipras does not hold back while he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
In Tsipras's version, Tsipras chose the unorthodox academic Varoufakis as the treasury head primarily due to the latter's global profile and his highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal motives that included advancing his books and testing out his economic models on Greece instead of truly advocating its financial survival.
Tsipras explained that the discussions to stave off bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
At stake was not only the country's destiny and those harsh austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and issuing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive handling.”
He further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of history has provoked fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
