In a newly released memoir, titled Ithaki, the ex- leader Tsipras does not hold back while he examines that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose the maverick economist Varoufakis as the finance minister mainly due to the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“He was, in reality, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives that included advancing his publications and testing out his own economic models using the nation instead of genuinely fighting for its economic stability.
He noted that those negotiations to stave off bankruptcy became “not only a method to secure a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
On the line was not only Greece's future but also the punishing austerity policies required in return for bailout funds from international creditors.
Failed Options
Attempts to find funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive bailout terms were subjected to a popular referendum, a move that plunged the EU into a further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
He further wrote that his confrontational approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
This account of events has been met with fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
