Within his freshly published memoir, called Ithaki, the ex- leader Tsipras pulls no punches while he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
In Tsipras's version, he appointed that maverick economist Varoufakis as the finance minister primarily due to the latter's international reputation along with his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis had his own agenda which included promoting his books and testing out his own theories on Greece instead of truly fighting for its financial survival.
Tsipras explained how the discussions to stave off bankruptcy became “not just a way to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake lay both the country's destiny and those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were put to a public vote, a move that plunged Europe into a further existential crisis.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras further wrote that his aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
This account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
