Within his freshly published personal account, named Ithaki, the ex- premier Tsipras does not hold back while he reflects on that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected the maverick economist Varoufakis as the finance minister mainly because of his international reputation and Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed a personal motives that involved promoting his books as well as experimenting with his own theories on Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote how the talks to stave off insolvency were “not just a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line was both Greece's destiny but also the severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms 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 to reject its outcome and agree to a bailout package with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how his confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
