In a freshly published personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the chaotic period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras chose that unorthodox economist Varoufakis as his finance minister mainly due to his international reputation along with his “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his own game theories using the nation rather than truly fighting for its financial survival.
Tsipras explained how those negotiations to stave off insolvency were “not just a way of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
During volatile discussions, Greece came dangerously close to leaving the single currency area.
On the line lay both Greece's destiny and the punishing austerity measures required in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move that plunged Europe into further existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
He also wrote how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This account of history has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
