Within his recently unveiled personal account, named Ithaki, the former premier Tsipras spares no criticism as he examines the chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras chose the maverick academic Varoufakis to be the treasury head mainly due to his worldwide fame and his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief had his own agenda which involved advancing his books and experimenting with his own economic models using Greece instead of genuinely advocating its financial survival.
He wrote that those negotiations to prevent bankruptcy became “not only a method to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and the severe austerity measures required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a public vote, a move which threw Europe into deeper crisis of identity.
Even though the vote was won decisively by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how his confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury along with shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
