In a freshly published personal account, titled Ithaki, the ex- leader Tsipras does not hold back while he examines that turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he chose that maverick academic Varoufakis to be his treasury head largely due to his global profile along with Varoufakis's very persuasive skills when it came to speaker.
“He was, in reality, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis possessed a personal motives which involved advancing Varoufakis's publications and experimenting with his economic models using Greece rather than truly advocating the country's financial survival.
He noted how those talks to avoid insolvency became “not just a way to secure improved terms for Greece. They became a test, an historic chance to prove the truth of his theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself perilously close to exiting the single currency area.
At stake lay not only Greece's destiny but also the harsh austerity measures required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were put to a public vote, a move that threw Europe into a deeper existential crisis.
Even though the vote was won decisively by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
