In a newly released memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the turbulent period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, he appointed that unorthodox economist Varoufakis as the treasury head primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal agenda that involved advancing his publications as well as experimenting with his own game theories on Greece instead of genuinely advocating the country's economic stability.
He wrote that those discussions to avoid bankruptcy became “not just a way to secure improved terms for the country. They became a test, a monumental chance to prove the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay both the country's destiny but also those harsh austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of events has been met with anger and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
