Within his freshly published memoir, called Ithaki, the ex- leader Tsipras pulls no punches while he examines the turbulent era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, he selected that maverick economist Varoufakis as the finance minister mainly due to the latter's worldwide fame and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief had his own agenda that involved advancing his publications as well as testing out his economic models using Greece rather than truly advocating its economic stability.
Tsipras noted how the negotiations to stave off bankruptcy became “not only a way to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was not only the country's destiny but also the severe cutbacks required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that plunged the EU into further crisis of identity.
Even though the referendum was won resoundingly by voters against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency and issuing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hawks who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
