In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras does not hold back while he examines the turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose the unorthodox economist Varoufakis to be the treasury head mainly due to the latter's international reputation along with Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief had his own motives that included advancing Varoufakis's books and experimenting with his own economic models on Greece instead of genuinely fighting for the country's financial survival.
Tsipras explained how the discussions to avoid bankruptcy became “not just a way to secure a better deal for the country. They were a test, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both the country's destiny and those punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, those harsh bailout terms were put to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating Grexit.
The account of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
