Within his newly released personal account, called Ithaki, the former premier Tsipras pulls no punches as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the maverick economist Varoufakis as his finance minister mainly because of his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis possessed his own agenda that involved promoting his publications as well as experimenting with his own game theories on the nation instead of genuinely fighting for the country's economic stability.
He wrote how those talks to avoid insolvency were “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During volatile discussions, the country came perilously close to leaving the eurozone.
At stake lay not only the country's future but also those harsh austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a public vote, a move which plunged Europe into a further crisis of identity.
Although the vote was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
He further wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for Grexit.
The account of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
