Within his newly released personal account, titled Ithaki, the ex- leader Tsipras does not hold back while he reflects on that chaotic era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras chose that unorthodox academic Varoufakis to be his finance minister mainly due to the latter's international reputation and his “extremely attractive” abilities as a speaker.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own agenda that involved advancing his books and experimenting with his own economic models using the nation instead of genuinely fighting for its economic stability.
He explained how those negotiations to stave off bankruptcy became “not only a method of achieving a better deal for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny and those harsh austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action which threw Europe into deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further wrote how his aggressive style left him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
This account of history has been met with anger and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
