In a freshly published personal account, named Ithaki, the ex- premier Tsipras does not hold back as he reflects on the turbulent era during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, Tsipras selected that unorthodox academic Varoufakis to be his treasury head mainly because of the latter's international reputation and his very persuasive skills as a public orator.
“He was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed a personal motives which included advancing his books as well as testing out his own theories on Greece rather than genuinely advocating its economic stability.
He noted that the talks to prevent insolvency were “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously on the brink of leaving the single currency area.
At stake was not only the country's future but also those severe austerity measures required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action that threw the EU into further existential crisis.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal from foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
He further wrote that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
