In a newly released personal account, called Ithaki, the ex- prime minister Tsipras does not hold back while he examines the chaotic era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he chose the maverick economist Varoufakis to be the treasury head mainly because of the latter's global profile and Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis had a personal motives that involved advancing Varoufakis's books and testing out his own theories using Greece instead of genuinely fighting for its economic stability.
He explained that those talks to stave off bankruptcy were “not just a way to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line was not only Greece's future but also the harsh cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
