Within his newly released memoir, named Ithaki, the ex- leader Tsipras spares no criticism as he examines that turbulent period during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, he chose the maverick academic Varoufakis as the finance minister mainly because of his international reputation along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, truthfully, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal agenda that included promoting Varoufakis's publications as well as experimenting with his own economic models on Greece instead of truly fighting for its financial survival.
Tsipras explained how the talks to prevent insolvency were “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During tense discussions, the country came dangerously close to leaving the single currency area.
At stake was not only the country's destiny and those punishing cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into a further crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras was forced to ignore the result then negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate management.”
He also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
This retelling of history has been met with anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
