Within his newly released memoir, titled Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that chaotic period of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras appointed the maverick economist Varoufakis to be his treasury head mainly due to the latter's global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal agenda which involved promoting Varoufakis's books and experimenting with his own economic models using Greece rather than genuinely fighting for the country's economic stability.
He explained that those discussions to prevent bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line was not only the country's future but also the punishing cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
He also wrote how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The account of history has provoked anger along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
