Within his freshly published personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's version, Tsipras chose that unorthodox economist Varoufakis to be the finance minister mainly because of his international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own motives which included promoting his publications as well as testing out his own theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras wrote that the discussions to prevent insolvency were “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the validity of his ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously close to leaving the single currency area.
At stake was not only the country's destiny and those harsh austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, a move that threw Europe into a deeper existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further claimed that his aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
The account of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
