In a freshly published personal account, called Ithaki, the ex- premier Tsipras pulls no punches as he examines that chaotic period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, Tsipras appointed the maverick academic Varoufakis as the treasury head mainly because of his worldwide fame along with his highly compelling skills when it came to public orator.
“In reality, he was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis possessed a personal agenda that included advancing his publications as well as testing out his own game theories on Greece rather than truly fighting for its financial survival.
He explained that those negotiations to prevent bankruptcy became “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense negotiations, the country found itself perilously close to leaving the eurozone.
At stake was not only Greece's future and those severe austerity policies demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
He also wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of history has provoked anger along with shock in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
