Within his freshly published personal account, called Ithaki, the former premier Tsipras pulls no punches while he examines the turbulent era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as the finance minister largely because of his worldwide fame along with his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how his finance chief had a personal motives that included advancing his books and experimenting with his own game theories using Greece rather than truly fighting for its economic stability.
Tsipras wrote how those talks to stave off insolvency became “not only a method to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both Greece's future but also the severe cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The account of events has provoked fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
