Within his recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the chaotic era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis to be the treasury head primarily because of the latter's worldwide fame along with his “extremely attractive” skills as a communicator.
“He was, truthfully, more like a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal motives which involved advancing his books and testing out his game theories using Greece instead of genuinely fighting for the country's financial survival.
He wrote that those discussions to avoid insolvency became “not only a method of achieving a better deal for the country. They became a test, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid tense discussions, Greece came dangerously close to leaving the single currency area.
At stake was both the country's destiny but also those severe austerity measures demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move which plunged Europe into a further existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
This retelling of events has provoked anger and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
