In a freshly published personal account, named Ithaki, the former prime minister Tsipras does not hold back as he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose that unorthodox academic Varoufakis to be the finance minister primarily because of his worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had a personal agenda that included advancing Varoufakis's books as well as experimenting with his game theories on Greece rather than genuinely advocating its economic stability.
Tsipras explained how the talks to avoid insolvency became “not only a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, the country came dangerously close to leaving the eurozone.
At stake was not only the country's destiny but also the severe austerity policies demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
Tsipras further wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The account of events has been met with fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
