Within his recently unveiled personal account, called Ithaki, the former prime minister Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis to be the finance minister primarily because of his global profile and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis had a personal agenda that included advancing his publications and testing out his own game theories using the nation rather than truly fighting for its financial survival.
He noted that those talks to avoid insolvency were “not just a way to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both Greece's destiny but also those harsh cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
