In a recently unveiled memoir, titled Ithaki, the former premier Tsipras does not hold back as he reflects on the chaotic era during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's recollections, he chose the maverick economist Varoufakis as the finance minister primarily due to the latter's international reputation along with his highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief had his own motives that included advancing Varoufakis's books as well as experimenting with his theories using the nation instead of genuinely fighting for its financial survival.
Tsipras noted how those discussions to prevent insolvency were “not just a way of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both Greece's destiny and the punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal from creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He also claimed that his confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
