Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he appointed that maverick academic Varoufakis to be the finance minister mainly due to his global profile and his highly compelling abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief had his own agenda that involved advancing his books and experimenting with his own economic models on Greece rather than genuinely fighting for its economic stability.
Tsipras noted how those talks to avoid insolvency were “not only a way of achieving a better deal for the country. They became an experiment, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
Amid volatile discussions, Greece came perilously close to leaving the eurozone.
On the line lay both the country's future but also those harsh cutbacks demanded in return for bailout funds from international creditors.
Failed Options
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was won resoundingly by voters against the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
He also wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
