In a newly released personal account, titled Ithaki, the ex- premier Tsipras does not hold back as he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he appointed the maverick economist Varoufakis as his treasury head primarily due to his international reputation and his very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis had his own motives which included advancing Varoufakis's publications as well as testing out his own game theories using Greece instead of genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to stave off bankruptcy were “not only a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay not only the country's destiny and the harsh austerity measures demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action that plunged Europe into a further existential crisis.
Although the vote was won decisively by voters who opposed the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
