Within his recently unveiled personal account, titled Ithaki, the ex- premier Tsipras does not hold back as he revisits that turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras chose that maverick academic Varoufakis as his treasury head largely due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more like a star and less of an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had his own motives which involved advancing his books as well as testing out his theories on Greece instead of genuinely advocating the country's financial survival.
Tsipras noted how those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay not only the country's future and the harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Failed Options
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were put to a public vote, a move which threw the EU into deeper existential crisis.
Although the vote was won decisively by voters against austerity, the prime minister was forced to ignore the result then negotiate a bailout package with creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing coupons to pensioners, the leader said he realised it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
He further wrote that his aggressive style left him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
