In a freshly published personal account, called Ithaki, the former premier Tsipras does not hold back while he revisits the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he selected that maverick economist Varoufakis to be his finance minister largely due to the latter's global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal motives which included advancing Varoufakis's publications as well as experimenting with his game theories on Greece rather than truly fighting for the country's economic stability.
He wrote how those negotiations to prevent insolvency became “not only a way of achieving a better deal for Greece. They became a test, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake lay both Greece's destiny but also the severe cutbacks demanded in return for financial aid by international creditors.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras also wrote that his confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked fury and shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
