In a newly released memoir, named Ithaki, the former leader Tsipras does not hold back while he reflects on that turbulent era during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected the unorthodox academic Varoufakis as his finance minister mainly due to his worldwide fame along with his highly compelling abilities as a speaker.
“He was, in reality, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief had his own agenda that included advancing his publications and testing out his theories using the nation rather than genuinely advocating its economic stability.
He noted that the talks to stave off bankruptcy were “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line was both Greece's destiny but also those harsh austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
Tsipras further claimed how his confrontational approach left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
