In a recently unveiled memoir, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on the turbulent period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, Tsipras appointed the maverick academic Varoufakis as his treasury head mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had his own agenda which involved promoting his publications and experimenting with his game theories on Greece rather than truly fighting for its financial survival.
Tsipras explained that the negotiations to stave off insolvency were “not just a way to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake lay not only Greece's future and those severe cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, a move which plunged the EU into deeper existential crisis.
Although the vote was won resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further wrote that his confrontational style made him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with fury and shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
