In a newly released personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras selected that maverick economist Varoufakis to be his finance minister largely because of the latter's global profile and his “extremely attractive” abilities as a communicator.
“He was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own agenda that involved promoting Varoufakis's books as well as testing out his game theories on the nation rather than genuinely fighting for the country's economic stability.
He wrote that the talks to avoid bankruptcy became “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake lay both Greece's destiny and the severe austerity policies required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
He further wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
