In a freshly published memoir, called Ithaki, the ex- premier Tsipras pulls no punches as he examines that chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, Tsipras chose the maverick economist Varoufakis to be his finance minister largely because of the latter's global profile and Varoufakis's highly compelling abilities when it came to speaker.
“He was, in reality, more of a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own motives which involved promoting Varoufakis's books and experimenting with his own theories on Greece instead of truly fighting for its economic stability.
Tsipras explained how those talks to stave off insolvency were “not just a way to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
On the line was not only the country's destiny and the harsh austerity policies required in return for rescue loans from international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action that threw Europe into a deeper existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
This account of history has been met with fury and stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
