In a freshly published memoir, named Ithaki, the ex- leader Tsipras pulls no punches as he examines that chaotic era of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he selected the unorthodox academic Varoufakis to be his treasury head mainly because of his international reputation along with his highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis possessed his own motives which involved advancing his books as well as testing out his theories on Greece instead of truly fighting for its economic stability.
Tsipras explained how those talks to prevent bankruptcy became “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
At stake was both the country's destiny but also those severe austerity policies required in exchange for bailout funds by international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Even though the referendum was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras further claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
