Within his freshly published memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits that chaotic era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, Tsipras selected the unorthodox academic Varoufakis to be the treasury head primarily because of his worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief had his own motives which included advancing his publications as well as testing out his economic models using the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to avoid insolvency became “not just a method to secure improved terms for the country. They became a test, an historic opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake lay both Greece's future and those harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the harsh bailout terms were put to a public vote, an action that plunged the EU into further crisis of identity.
Although the referendum was carried decisively by those against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hawks that were advocating Grexit.
This account of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
