Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism as he reflects on that chaotic period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he appointed the unorthodox economist Varoufakis as his finance minister primarily because of his international reputation and his “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a star rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda which included advancing his publications and experimenting with his own theories on Greece instead of truly fighting for the country's economic stability.
He explained how those discussions to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
During tense discussions, the country came dangerously close to leaving the eurozone.
On the line lay not only Greece's future and those severe austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, an action which threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself “unsuitable for a deal that required intricate and delicate management.”
He further claimed that his confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
