In a newly released personal account, titled Ithaki, the ex- premier Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
An Unconventional Choice
As per Tsipras's account, he selected that maverick economist Varoufakis to be his finance minister largely due to his international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed a personal motives that involved advancing his books as well as experimenting with his own theories using the nation instead of truly fighting for the country's financial survival.
Tsipras wrote that the negotiations to avoid bankruptcy became “not just a way 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
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay not only the country's future but also the punishing austerity policies required in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
He also claimed how his confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
