In a recently unveiled memoir, named Ithaki, the ex- leader Tsipras does not hold back as he revisits the chaotic period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, he selected that maverick economist Varoufakis as the finance minister primarily due to his international reputation along with his very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own motives which involved promoting his publications and testing out his theories on Greece instead of truly fighting for the country's financial survival.
Tsipras explained that those talks to avoid insolvency were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only the country's future and the punishing austerity measures required in return for bailout funds by international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed 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 magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for a deal that required complex and delicate handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
