In a newly released personal account, titled Ithaki, the former premier Tsipras does not hold back as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis to be the finance minister largely because of the latter's global profile along with his highly compelling skills as a speaker.
“He was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had his own agenda that involved promoting his books as well as testing out his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He noted that the discussions to avoid insolvency were “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
At stake was not only the country's destiny and those severe austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, an action that plunged the EU into further crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further wrote how his aggressive style left him more and more alone among peers, endangered the country, and helped hawks that were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
