Within his newly released memoir, called Ithaki, the former leader Tsipras spares no criticism as he revisits that chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, Tsipras chose the maverick economist Varoufakis to be his finance minister mainly due to his global profile along with his “extremely attractive” abilities as a speaker.
“He was, actually, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own motives that included promoting Varoufakis's books as well as testing out his economic models on the nation rather than truly fighting for the country's financial survival.
He explained that the negotiations to prevent bankruptcy were “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line was not only Greece's destiny but also the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
