Within his freshly published memoir, titled Ithaki, the ex- premier Tsipras pulls no punches as he reflects on the turbulent period during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras chose that maverick academic Varoufakis as the treasury head largely because of the latter's international reputation and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, actually, more like a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had his own motives that involved advancing his books and experimenting with his economic models using Greece instead of truly advocating the country's financial survival.
Tsipras wrote that those discussions to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only the country's destiny but also the punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move that threw the EU into a further existential crisis.
Although the referendum was won resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He further claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
