In a recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras does not hold back while he revisits the chaotic period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed that unorthodox academic Varoufakis to be the finance minister mainly due to his global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own motives which included advancing Varoufakis's books and experimenting with his theories using the nation rather than truly advocating its economic stability.
He wrote that those negotiations to prevent bankruptcy were “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During tense negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line was both Greece's future and those punishing austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras further claimed that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
