In a newly released memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the chaotic period of Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he chose that unorthodox economist Varoufakis to be his treasury head mainly because of his worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed his own motives which included advancing Varoufakis's books and experimenting with his economic models on Greece rather than truly fighting for the country's economic stability.
He explained how those talks to avoid bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country found itself dangerously close to leaving the single currency area.
On the line was both Greece's future and those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, those harsh conditions were put to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself “unfit for a deal that required intricate and delicate handling.”
He further claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
The retelling of events has been met with anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
