Within his recently unveiled personal account, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he appointed the maverick academic Varoufakis to be the finance minister mainly due to the latter's global profile along with Varoufakis's very persuasive skills as a communicator.
“He was, actually, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed a personal motives which involved promoting his publications as well as experimenting with his theories using the nation instead of genuinely fighting for the country's economic stability.
He wrote that those negotiations to prevent bankruptcy became “not only a way to secure a better deal for the country. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece found itself perilously close to exiting the single currency area.
On the line lay both Greece's future and the punishing austerity measures required in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote how his aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger and shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
