In a freshly published memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the chaotic period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's recollections, he selected that maverick academic Varoufakis as his treasury head primarily due to his global profile and Varoufakis's “extremely attractive” skills as a public orator.
“He was, actually, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis had his own agenda that included advancing Varoufakis's publications as well as experimenting with his economic models on Greece rather than truly fighting for its economic stability.
He noted how those talks to stave off bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself perilously close to leaving the single currency area.
On the line lay not only Greece's destiny and the harsh cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes that his former ally had proved himself “unsuitable for a deal demanding complex and delicate management.”
He further claimed how his aggressive approach left him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
