Within his newly released personal account, named Ithaki, the former prime minister Tsipras does not hold back as he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he selected the unorthodox academic Varoufakis as his finance minister primarily because of the latter's international reputation and Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests how his finance chief possessed his own agenda which involved promoting Varoufakis's books as well as experimenting with his game theories using Greece instead of genuinely fighting for the country's economic stability.
He wrote how those discussions to stave off insolvency were “not just a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
During tense discussions, the country came dangerously close to exiting the single currency area.
At stake was not only the country's future and the harsh cutbacks required in exchange for financial aid from international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into a further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author concludes that Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
He further claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This account of history has provoked fury and shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
