Within his recently unveiled memoir, titled Ithaki, the former premier Tsipras pulls no punches as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's recollections, Tsipras appointed that maverick economist Varoufakis as his treasury head mainly because of his international reputation along with his very persuasive skills as a speaker.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own agenda that involved advancing his publications and experimenting with his game theories using the nation rather than truly fighting for the country's economic stability.
Tsipras explained how the negotiations to prevent bankruptcy were “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was both Greece's future but also those harsh austerity policies required in exchange for bailout funds by international creditors.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action that threw the EU into further existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal with creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”
He also claimed how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
