Within his newly released personal account, called Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on that chaotic period of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, Tsipras chose the maverick academic Varoufakis as his finance minister largely due to the latter's international reputation along with his “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal motives which included promoting Varoufakis's publications as well as testing out his own game theories on Greece rather than truly advocating the country's financial survival.
He explained how the talks to prevent insolvency were “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense negotiations, the country found itself dangerously close to exiting the single currency area.
At stake was not only Greece's destiny and the punishing austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh conditions were subjected to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the vote was carried decisively by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
