Within his newly released personal account, called Ithaki, the former leader Tsipras does not hold back as he examines the turbulent era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, he appointed the maverick academic Varoufakis to be the finance minister primarily due to his global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal motives which involved promoting his publications as well as testing out his own game theories using the nation instead of genuinely fighting for its financial survival.
He wrote that those discussions to avoid bankruptcy became “not just a way to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Talks
During tense negotiations, the country came dangerously close to exiting the single currency area.
On the line was both Greece's destiny and those severe cutbacks required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras also wrote that his confrontational approach left him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of history has been met with fury and shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
