In a freshly published memoir, called Ithaki, the former premier Tsipras does not hold back as he reflects on that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, he chose the unorthodox economist Varoufakis to be his finance minister primarily because of the latter's global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own motives which involved advancing Varoufakis's publications as well as testing out his theories using the nation instead of truly advocating the country's financial survival.
Tsipras explained how those talks to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously close to exiting the single currency area.
At stake was not only the country's destiny and the severe austerity policies required in exchange for financial aid by international creditors.
Failed Options
Efforts to secure financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move which threw the EU into a further existential crisis.
Even though the vote was carried decisively by voters against austerity, Tsipras was forced to reject its outcome then agree to a bailout package from foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how his aggressive style left him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of history has provoked fury and shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
