In a freshly published personal account, called Ithaki, the ex- premier Tsipras pulls no punches as he revisits the chaotic era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the maverick economist Varoufakis as his finance minister mainly due to his worldwide fame and Varoufakis's very persuasive skills when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had a personal motives that included promoting his publications as well as experimenting with his game theories using Greece instead of genuinely fighting for its financial survival.
He explained how the talks to avoid insolvency became “not only a way to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was not only the country's destiny and those harsh cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
He further claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
