Within his newly released personal account, called Ithaki, the ex- premier Tsipras does not hold back as he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, he chose that maverick academic Varoufakis as his finance minister mainly because of the latter's worldwide fame along with his very persuasive abilities as a public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal motives which included promoting Varoufakis's books as well as experimenting with his economic models using Greece rather than genuinely fighting for its financial survival.
He explained how the talks to prevent insolvency were “not just a way to secure improved terms for Greece. They were a test, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's destiny but also those punishing austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were put to a public vote, a move which plunged Europe into a further existential crisis.
Even though the vote was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
