In a recently unveiled memoir, called Ithaki, the ex- leader Tsipras pulls no punches as he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, he selected that maverick academic Varoufakis as the finance minister primarily because of his worldwide fame and Varoufakis's very persuasive skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had his own motives which included advancing his publications as well as experimenting with his game theories using Greece instead of truly advocating the country's financial survival.
He noted how the discussions to avoid insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay both the country's future and the harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move which threw Europe into further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how his former ally had proved himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
