Within his newly released personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he appointed that maverick academic Varoufakis to be his finance minister primarily because of his global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives that involved advancing Varoufakis's books and experimenting with his theories on the nation rather than truly fighting for the country's economic stability.
He wrote that those talks to stave off insolvency became “not just a method of achieving a better deal for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, the country came perilously on the brink of leaving the eurozone.
On the line lay both the country's future but also those punishing austerity measures demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were put to a popular referendum, an action which threw Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, Tsipras had little option to ignore the result and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
