In a newly released personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis as the finance minister largely due to the latter's worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda that involved promoting Varoufakis's books and experimenting with his own game theories on the nation rather than truly fighting for the country's economic stability.
Tsipras noted that the discussions to avoid insolvency became “not only a way of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense negotiations, the country found itself dangerously close to leaving the single currency area.
On the line was not only Greece's future but also those harsh austerity measures required in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into a further existential crisis.
Although the referendum was won decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from creditors that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This account of history has been met with anger along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
