In a recently unveiled personal account, called Ithaki, the former premier Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected the maverick academic Varoufakis to be his finance minister largely due to the latter's global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader claims that his finance chief had his own motives which involved promoting Varoufakis's books as well as experimenting with his game theories using Greece rather than genuinely advocating its financial survival.
He wrote how those negotiations to avoid bankruptcy were “not just a way to secure improved terms for the country. They were a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to exiting the eurozone.
At stake was not only the country's future but also the severe austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the vote was carried decisively by voters against the cuts, Tsipras was forced to ignore the result then agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
