In a newly released personal account, titled Ithaki, the ex- premier Tsipras spares no criticism as he revisits the chaotic era during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he chose that maverick economist Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with his very persuasive skills as a communicator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis had his own motives which involved promoting Varoufakis's books and testing out his game theories on Greece instead of truly fighting for its financial survival.
Tsipras noted that those negotiations to avoid insolvency were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his theories.”
Critical Talks
During tense discussions, the country found itself dangerously close to exiting the single currency area.
At stake was both Greece's destiny but also the punishing austerity policies required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the vote was won decisively by those who opposed austerity, Tsipras was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He also claimed that his aggressive style left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This account of history has provoked anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
