In a freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
In Tsipras's account, he selected that maverick academic Varoufakis to be his treasury head primarily because of his international reputation along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how his finance chief possessed his own agenda which involved advancing his books as well as testing out his economic models using Greece rather than truly advocating the country's financial survival.
Tsipras explained that the negotiations to prevent bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Talks
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's destiny but also those harsh austerity policies required in exchange for financial aid by international creditors.
Failed Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating Grexit.
The retelling of events has been met with anger and shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
