In a recently unveiled memoir, called Ithaki, the former premier Tsipras pulls no punches while he examines the turbulent period of Greece's debt drama.
An Unconventional Choice
In Tsipras's version, Tsipras selected that maverick academic Varoufakis as the treasury head largely due to his global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how his finance chief possessed his own motives that included promoting his publications and testing out his own economic models on the nation rather than truly fighting for the country's financial survival.
Tsipras wrote how the discussions to prevent bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously close to leaving the single currency area.
On the line was not only Greece's future but also those punishing austerity policies required in return for rescue loans from foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action that plunged Europe into a further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He 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.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
He further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
This retelling of history has been met with anger and shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
