Within his freshly published personal account, named Ithaki, the former leader Tsipras does not hold back while he reflects on that turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he chose that maverick academic Varoufakis to be his finance minister primarily because of his international reputation along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed his own motives which included promoting Varoufakis's books as well as testing out his game theories using Greece instead of genuinely advocating the country's economic stability.
He noted that those discussions to stave off bankruptcy were “not only a method to secure improved terms for Greece. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country found itself dangerously close to exiting the single currency area.
On the line lay both the country's destiny but also the harsh austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a public vote, an action which plunged the EU into a further crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency and issuing coupons to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself “unfit for a deal that required complex and sensitive management.”
He also claimed how his confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
