In a recently unveiled memoir, called Ithaki, the former leader Tsipras does not hold back as he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose the unorthodox academic Varoufakis as his treasury head largely due to the latter's global profile and Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had a personal agenda which involved advancing his publications as well as experimenting with his own economic models on Greece instead of genuinely advocating its financial survival.
Tsipras noted how the discussions to avoid insolvency were “not just a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the truth of his theories.”
Critical Negotiations
Amid volatile discussions, the country came perilously on the brink of leaving the single currency area.
On the line lay not only the country's future but also those harsh austerity measures required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged Europe into a further existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for an agreement that required complex and sensitive handling.”
He further wrote how his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of events has provoked anger along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
