Within his newly released personal account, called Ithaki, the former leader Tsipras does not hold back as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
In Tsipras's account, Tsipras selected that unorthodox academic Varoufakis as the finance minister primarily due to his international reputation and his very persuasive abilities as a public orator.
“He was, in reality, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed a personal motives which involved advancing Varoufakis's publications and experimenting with his game theories on Greece instead of truly advocating its financial survival.
Tsipras noted how the discussions to stave off insolvency became “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid volatile discussions, the country came perilously on the brink of leaving the single currency area.
At stake was both Greece's destiny but also the severe austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Although the vote was won decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of events has been met with fury along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
