In a freshly published personal account, named Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic period during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his treasury head mainly due to his global profile and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis had a personal agenda which involved advancing his publications and experimenting with his theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that the talks to stave off bankruptcy became “not just a method to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only the country's destiny but also the harsh austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged the EU into a further crisis of identity.
Even though the vote was won decisively by voters against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
The retelling of history has been met with anger along with shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
