Within his freshly published personal account, named Ithaki, the former leader Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he chose that maverick economist Varoufakis to be his finance minister primarily due to the latter's international reputation and his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had a personal motives that included promoting his books as well as experimenting with his own theories on the nation instead of truly fighting for its financial survival.
He explained that those discussions to stave off bankruptcy became “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
During tense discussions, the country found itself dangerously close to exiting the single currency area.
At stake was not only the country's destiny but also those harsh austerity policies required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This retelling of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
