In a freshly published personal account, called Ithaki, the ex- premier Tsipras does not hold back while he revisits that chaotic era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he chose the maverick economist Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“He was, truthfully, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives which included advancing Varoufakis's books and experimenting with his own economic models using Greece instead of genuinely advocating its financial survival.
Tsipras explained how the talks to stave off insolvency were “not just a method to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously on the brink of exiting the single currency area.
On the line was both Greece's future but also those harsh austerity policies required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further claimed how his confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
