Within his freshly published personal account, called Ithaki, the ex- premier Tsipras pulls no punches as he revisits the turbulent period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's recollections, he appointed the unorthodox academic Varoufakis as his treasury head mainly due to his international reputation along with his highly compelling abilities as a public orator.
“He was, actually, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal agenda that included promoting Varoufakis's books as well as testing out his own game theories using Greece instead of genuinely advocating the country's economic stability.
He wrote that those negotiations to prevent bankruptcy became “not just a way of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only Greece's destiny but also the harsh cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action that threw Europe into further existential crisis.
Although the vote was carried resoundingly by voters against the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
He further claimed how his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
