Within his freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
A Controversial Appointment
In the ex-PM's account, he chose that maverick academic Varoufakis to be his treasury head largely because of his worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives that included advancing Varoufakis's publications and experimenting with his game theories using the nation rather than truly advocating its financial survival.
Tsipras explained how those talks to avoid bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake lay both Greece's future and those punishing cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action that threw the EU into further existential crisis.
Even though the vote was won decisively by voters against the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also wrote how his aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
