Within his newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches while he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he appointed the maverick academic Varoufakis as his treasury head primarily because of the latter's worldwide fame along with Varoufakis's very persuasive skills as a public orator.
“He was, actually, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had his own motives that involved advancing his publications as well as testing out his own game theories using Greece rather than genuinely fighting for the country's financial survival.
He wrote that the negotiations to avoid bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During tense negotiations, the country came dangerously on the brink of leaving the single currency area.
At stake lay both the country's future and the severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras further claimed that his aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
