In a recently unveiled memoir, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits that turbulent era of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, Tsipras selected that maverick economist Varoufakis as the finance minister mainly because of his global profile and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis had a personal agenda that included promoting his publications and testing out his own economic models using the nation rather than truly fighting for the country's economic stability.
Tsipras noted how those negotiations to avoid bankruptcy were “not only a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
On the line was both the country's destiny but also those punishing cutbacks demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then agree to a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This retelling of history has provoked anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
