Within his freshly published personal account, called Ithaki, the former prime minister Tsipras does not hold back while he examines that turbulent era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he chose the maverick economist Varoufakis to be the treasury head largely because of his global profile and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a star rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal agenda which involved promoting his books as well as testing out his own game theories using Greece rather than truly fighting for its economic stability.
Tsipras wrote how those negotiations to stave off insolvency became “not just a way to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously on the brink of leaving the single currency area.
At stake lay not only Greece's future but also the severe austerity measures required in return for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, the punitive conditions were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
He also claimed that his aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
