In a recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that chaotic era of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, he chose that maverick economist Varoufakis to be the finance minister largely because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed his own motives that involved advancing Varoufakis's books as well as testing out his game theories on Greece rather than truly advocating its economic stability.
Tsipras wrote that those talks to stave off bankruptcy were “not just a method of achieving a better deal for the country. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, the country came perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the severe cutbacks required in return for rescue loans by international creditors.
Failed Options
Efforts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move that plunged the EU into further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
