Within his newly released personal account, titled Ithaki, the ex- premier Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis as his treasury head mainly due to the latter's international reputation and his highly compelling skills when it came to public orator.
“He was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader claims that his finance chief had his own agenda that involved promoting Varoufakis's books and experimenting with his game theories using Greece rather than truly fighting for the country's economic stability.
Tsipras noted that those discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.
On the line lay both Greece's future and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action which threw the EU into further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He further claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
