In a newly released personal account, called Ithaki, the former leader Tsipras pulls no punches while he examines the turbulent period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis to be the finance minister largely due to his international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda which involved promoting his books as well as testing out his own game theories using Greece rather than genuinely fighting for its financial survival.
He explained how the negotiations to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously close to leaving the eurozone.
On the line was not only Greece's destiny and the severe austerity measures required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find funds from other sources, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by those against the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras also wrote how his aggressive style left him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
