In a newly released personal account, named Ithaki, the ex- premier Tsipras does not hold back while he examines that turbulent period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he chose that unorthodox academic Varoufakis as his treasury head largely due to his worldwide fame and his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief had a personal motives that involved advancing Varoufakis's publications and testing out his game theories on Greece instead of truly advocating its economic stability.
Tsipras explained that those talks to avoid insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
During rollercoaster discussions, Greece came dangerously close to exiting the single currency area.
On the line was both the country's destiny and those punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Even though the vote was won resoundingly by voters against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
