Within his recently unveiled personal account, called Ithaki, the former premier Tsipras pulls no punches while he reflects on the chaotic period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, he chose that maverick academic Varoufakis to be the finance minister largely because of the latter's worldwide fame along with his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed his own agenda which involved advancing his books and testing out his game theories using Greece instead of genuinely fighting for its financial survival.
He noted how the negotiations to prevent bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his economic theories.”
Critical Talks
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both the country's future and the severe cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which plunged Europe into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
He also wrote that Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of events has provoked anger along with shock in some quarters, while the former minister has maintained a deafening silence on the matter.
