In a newly released personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister mainly due to his global profile and Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved advancing his books as well as experimenting with his own game theories using Greece instead of truly advocating the country's financial survival.
He noted that those talks to stave off bankruptcy became “not only a method of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously close to exiting the eurozone.
On the line lay both Greece's future and those severe austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote that his aggressive style left him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating Grexit.
This retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
