Within his freshly published personal account, named Ithaki, the former leader Tsipras pulls no punches as he reflects on the chaotic period of Greece's debt drama.
A Controversial Choice
In Tsipras's account, he chose the unorthodox academic Varoufakis to be his finance minister mainly due to his worldwide fame along with his highly compelling skills as a communicator.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had a personal agenda which involved advancing Varoufakis's publications and testing out his own game theories using Greece instead of truly advocating the country's financial survival.
He explained how those talks to prevent bankruptcy became “not only a way to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
On the line was not only the country's destiny but also the punishing austerity measures required in exchange for rescue loans by international creditors.
Failed Options
Attempts to find financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, an action which plunged Europe into further existential crisis.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from creditors that proved to be more severe.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
