In a freshly published personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he revisits the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he selected that unorthodox academic Varoufakis as the finance minister primarily because of the latter's worldwide fame along with his “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives that involved advancing Varoufakis's books and testing out his game theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras noted that the discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country came dangerously close to leaving the eurozone.
On the line was both the country's destiny and those harsh austerity policies demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further wrote how his aggressive style left him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
