In a freshly published personal account, named Ithaki, the former premier Tsipras does not hold back as he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, he appointed the maverick economist Varoufakis to be his treasury head mainly because of his global profile and his “extremely attractive” skills when it came to speaker.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal motives which included promoting Varoufakis's books and experimenting with his own game theories on Greece instead of genuinely advocating its financial survival.
He wrote that the negotiations to stave off bankruptcy became “not only a method of achieving a better deal for the country. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came dangerously close to leaving the eurozone.
On the line was not only the country's future and those severe austerity measures demanded in return for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally had proved himself “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.
