In a freshly published personal account, titled Ithaki, the ex- leader Tsipras spares no criticism while he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he selected that unorthodox academic Varoufakis to be his treasury head mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more of a star and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief had his own motives which included promoting Varoufakis's books and testing out his game theories on Greece instead of genuinely advocating its financial survival.
Tsipras wrote that those discussions to prevent insolvency were “not just a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line was both the country's future but also those harsh austerity policies required in exchange for financial aid by international creditors.
Failed Options
Efforts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result then negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis 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?”
Lasting Rebuke
In the memoir, the author asserts how his former ally had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
