In a freshly published autobiography, titled Ithaki, the ex- premier Tsipras does not hold back as he examines that chaotic period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the maverick academic Varoufakis as the treasury head mainly due to his international reputation and Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had a personal agenda which involved promoting his books as well as testing out his own economic models on Greece rather than truly fighting for the country's financial survival.
He wrote that the talks to avoid insolvency became “not only a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously on the brink of exiting the eurozone.
On the line lay both Greece's future and the harsh austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a popular referendum, an action which threw Europe into a further crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras further wrote how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
The account of events has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
