In a newly released personal account, called Ithaki, the former premier Tsipras does not hold back while he examines that chaotic period during Greece's debt drama.
A Controversial Choice
According to Tsipras's version, he chose the unorthodox economist Varoufakis as the treasury head largely due to his worldwide fame and his very persuasive abilities as a public orator.
“In reality, he was, actually, more like a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had his own agenda that involved advancing Varoufakis's publications and experimenting with his game theories using Greece rather than truly fighting for the country's economic stability.
He explained how those discussions to stave off insolvency became “not just a way to secure a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense discussions, the country came dangerously close to leaving the eurozone.
On the line lay both Greece's destiny and the severe cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action which threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate management.”
He also claimed that his confrontational approach left him more and more alone among peers, endangered the country, while helped hawks who were advocating Grexit.
The retelling of history has been met with fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
