In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, he selected that unorthodox academic Varoufakis as the treasury head primarily because of his worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, truthfully, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal motives that included advancing Varoufakis's publications as well as experimenting with his game theories on Greece instead of genuinely fighting for its financial survival.
Tsipras noted that those talks to prevent bankruptcy became “not only a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
At stake was both the country's destiny and those severe austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency and distributing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
He further claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
