In a freshly published autobiography, titled Ithaki, the former premier Tsipras does not hold back as he examines the chaotic era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected the maverick academic Varoufakis as his treasury head mainly because of the latter's international reputation along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives which included promoting Varoufakis's books and testing out his game theories using the nation rather than truly advocating the country's financial survival.
Tsipras wrote how those talks to stave off insolvency were “not just a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously close to exiting the single currency area.
At stake was both the country's destiny and those severe austerity measures required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate handling.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This account of events has provoked fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
