Within his newly released memoir, named Ithaki, the former prime minister Tsipras does not hold back while he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he chose the unorthodox academic Varoufakis to be the treasury head largely because of his worldwide fame and his very persuasive skills when it came to speaker.
“He was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal agenda which included advancing Varoufakis's books as well as experimenting with his own theories on Greece rather than truly fighting for its financial survival.
He explained that the discussions to avoid bankruptcy were “not only a way to secure improved terms for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, the country came perilously close to exiting the eurozone.
On the line lay both Greece's destiny but also those punishing cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action that threw Europe into further existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He also claimed that his confrontational approach left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of events has provoked anger and shock in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
