In a freshly published memoir, named Ithaki, the former prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he selected the unorthodox economist Varoufakis to be his treasury head largely because of the latter's international reputation along with his very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief had a personal motives that involved promoting Varoufakis's publications as well as testing out his game theories on the nation instead of truly fighting for its financial survival.
Tsipras wrote how those talks to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's destiny and those severe cutbacks demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed how his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
