In a newly released personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the chaotic era of Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, Tsipras chose the unorthodox economist Varoufakis as the finance minister mainly because of his international reputation along with his very persuasive skills when it came to speaker.
“He was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis had his own agenda which involved advancing Varoufakis's books as well as testing out his economic models using the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained how those negotiations to prevent insolvency were “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny but also the severe cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by voters against the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed that his aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
