Within his newly released personal account, named Ithaki, the former leader Tsipras does not hold back as he examines that turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he chose the maverick academic Varoufakis to be his treasury head largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief had a personal agenda which included promoting Varoufakis's publications and testing out his theories using the nation instead of truly fighting for its financial survival.
Tsipras noted that those discussions to prevent bankruptcy were “not just a method to secure improved terms for Greece. They were a test, an historic opportunity to prove the truth of his ideas.”
Critical Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line lay both Greece's future but also the severe austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive management.”
Tsipras further claimed how his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
