In a newly released personal account, named Ithaki, the ex- prime minister Tsipras does not hold back while he revisits that chaotic era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras chose that unorthodox academic Varoufakis to be the treasury head mainly because of his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed a personal motives which included advancing Varoufakis's books as well as testing out his theories using the nation rather than truly fighting for its financial survival.
He noted that those negotiations to avoid insolvency became “not only a way to secure improved terms for Greece. They became an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay not only the country's destiny and the harsh austerity measures required in return for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, a move that threw the EU into further existential crisis.
Although the referendum was carried resoundingly by those against austerity, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for Grexit.
This account of history has been met with anger along with shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
