In a recently unveiled memoir, named Ithaki, the former leader Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he selected that unorthodox academic Varoufakis as his treasury head mainly due to his worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda which included promoting his books as well as testing out his own theories on the nation instead of truly fighting for the country's financial survival.
He wrote that those talks to avoid bankruptcy were “not only a method to secure a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, Greece came dangerously close to leaving the single currency area.
On the line lay not only the country's destiny but also the severe austerity measures demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, an action which threw the EU into further existential crisis.
Even though the vote was won resoundingly by voters against austerity, the prime minister had little option but to reject its outcome and negotiate a bailout package with creditors which turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further wrote that his confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This account of history has provoked anger and shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
