In a freshly published personal account, called Ithaki, the former premier Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis to be the treasury head mainly because of his international reputation and his highly compelling skills when it came to speaker.
“He was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis had a personal agenda that included advancing his books and experimenting with his own game theories using the nation instead of genuinely fighting for its financial survival.
He noted that the negotiations to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
Critical Negotiations
During volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's future but also those harsh austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, an action that threw Europe into a deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for a deal that required intricate and sensitive handling.”
Tsipras further wrote how his confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
