In a newly released personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches as he examines the turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's version, Tsipras selected that unorthodox economist Varoufakis as his treasury head largely due to the latter's worldwide fame along with his very persuasive abilities as a public orator.
“He was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had a personal motives that involved promoting Varoufakis's publications and testing out his economic models on Greece rather than truly fighting for the country's financial survival.
Tsipras wrote how those discussions to avoid bankruptcy were “not just a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid tense discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake was both Greece's destiny and the severe austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
