In a recently unveiled personal account, titled Ithaki, the former prime minister Tsipras does not hold back while he examines the chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected the maverick academic Varoufakis to be the treasury head mainly because of his worldwide fame and his “extremely attractive” abilities as a public orator.
“In reality, he was, actually, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief had a personal motives that included advancing Varoufakis's publications and testing out his own game theories using the nation instead of genuinely advocating its financial survival.
He wrote how the negotiations to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both Greece's destiny but also those severe austerity measures demanded in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also wrote how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit.
This account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
