In a newly released personal account, titled Ithaki, the former premier Tsipras pulls no punches as he revisits that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he chose that unorthodox economist Varoufakis as his treasury head largely because of his worldwide fame and his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more like a star rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own motives which involved promoting his books as well as experimenting with his own game theories using Greece instead of genuinely fighting for its financial survival.
He wrote that those talks to stave off insolvency became “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
On the line lay not only the country's future but also the punishing austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were put to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
