In a freshly published memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he appointed that maverick economist Varoufakis as the treasury head primarily due to his global profile and his highly compelling abilities when it came to public orator.
“He was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief had his own motives that included promoting Varoufakis's publications as well as testing out his game theories using Greece instead of truly fighting for the country's financial survival.
He explained how the talks to avoid insolvency became “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Talks
During volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake was both Greece's destiny and the harsh cutbacks required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with shock in some quarters, while the former minister has kept a deafening silence on the matter.
