Within his newly released personal account, titled Ithaki, the former premier Tsipras does not hold back while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he appointed the unorthodox economist Varoufakis to be his finance minister largely because of the latter's global profile and his “extremely attractive” abilities when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had a personal motives that included promoting his books as well as testing out his game theories using the nation rather than truly fighting for its financial survival.
Tsipras explained that the discussions to stave off bankruptcy became “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
During volatile negotiations, Greece came perilously on the brink of exiting the single currency area.
At stake was both Greece's future and the severe austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts how his former ally had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote how his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
