Within his newly released personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he revisits the chaotic era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, he chose that maverick economist Varoufakis as the finance minister largely because of his international reputation and Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis possessed his own agenda which involved promoting Varoufakis's publications as well as testing out his own game theories using the nation instead of genuinely fighting for its economic stability.
He noted how the discussions to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During rollercoaster discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake was both the country's destiny and the severe austerity measures demanded in exchange for financial aid from international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option but to ignore the result and agree to a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM 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 graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and sensitive management.”
He further wrote how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
This retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
