In a recently unveiled personal account, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic period of Greece's debt drama.
A Controversial Appointment
In Tsipras's account, Tsipras selected that maverick academic Varoufakis as his treasury head primarily because of the latter's worldwide fame and Varoufakis's very persuasive skills as a speaker.
“In reality, he was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis possessed his own motives which involved promoting his publications and experimenting with his theories on Greece instead of genuinely fighting for its economic stability.
He noted how those discussions to avoid bankruptcy were “not just a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny and those punishing cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, a move that threw the EU into a further existential crisis.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author concludes how Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras also wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of events has been met with anger along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
