Within his newly released personal account, called Ithaki, the ex- premier Tsipras does not hold back while he revisits the chaotic era of Greece's debt drama.
A Controversial Choice
As per Tsipras's account, Tsipras selected that unorthodox academic Varoufakis as his finance minister largely due to his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had his own motives which involved promoting his publications as well as experimenting with his economic models on Greece instead of genuinely fighting for its economic stability.
Tsipras explained that those negotiations to stave off insolvency were “not just a way of achieving improved terms for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, Greece came perilously close to leaving the single currency area.
At stake lay not only the country's future and those severe cutbacks required in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were put to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
