In a freshly published memoir, titled Ithaki, the former leader Tsipras pulls no punches while he examines the chaotic period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed that maverick economist Varoufakis to be his finance minister mainly due to the latter's worldwide fame and Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests that his finance chief had his own motives that included promoting his publications as well as experimenting with his game theories using the nation instead of truly fighting for the country's economic stability.
Tsipras explained how the discussions to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country came dangerously on the brink of leaving the single currency area.
On the line lay both Greece's destiny and those harsh cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the punitive bailout terms were put to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, and helped hardliners who were advocating Grexit.
The account of history has been met with fury along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
