Within his recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras does not hold back as he revisits that chaotic period during Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, Tsipras selected the unorthodox economist Varoufakis to be his finance minister largely due to his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more of a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief had a personal agenda which involved promoting Varoufakis's publications and experimenting with his own theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained that the discussions to prevent bankruptcy were “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
Amid tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake was both the country's future and those punishing cutbacks required in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a public vote, a move which threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed that his aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
This account of events has been met with anger and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
