Within his freshly published personal account, titled Ithaki, the former leader Tsipras pulls no punches while he reflects on the turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras appointed the maverick academic Varoufakis as the finance minister largely due to the latter's worldwide fame along with his highly compelling skills when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own motives that involved promoting Varoufakis's books and experimenting with his theories on Greece instead of truly advocating the country's economic stability.
Tsipras noted how the discussions to avoid bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake was both Greece's future but also those severe austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, an action which threw Europe into a further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras also wrote that his aggressive style made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
