In a newly released personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, Tsipras chose the unorthodox economist Varoufakis to be the treasury head largely due to his global profile along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, in reality, more like a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal agenda that included advancing his publications as well as testing out his game theories using Greece instead of genuinely advocating the country's financial survival.
He wrote that the discussions to stave off insolvency were “not just a way of achieving improved terms for the country. They became a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake lay not only Greece's destiny and those severe austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive conditions were put to a popular referendum, an action which threw the EU into deeper existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He further wrote that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
