Within his freshly published personal account, named Ithaki, the former prime minister Tsipras does not hold back while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis to be his treasury head mainly due to his global profile and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, actually, more of a star rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief possessed his own motives that included advancing his books and experimenting with his own theories using Greece rather than truly fighting for its financial survival.
Tsipras wrote that those discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During tense discussions, Greece came dangerously close to exiting the eurozone.
On the line was both Greece's destiny and the harsh austerity policies required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were put to a public vote, a move that threw Europe into deeper existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive management.”
He also claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
