In a recently unveiled personal account, named Ithaki, the former prime minister Tsipras pulls no punches while he revisits that chaotic era of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed that unorthodox economist Varoufakis to be his treasury head largely due to his international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more of a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had a personal agenda that included advancing Varoufakis's publications and testing out his own economic models on the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained how those talks to stave off bankruptcy became “not just a way to secure improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
During tense discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line lay both Greece's future and those harsh austerity policies required in return for bailout funds from foreign lenders.
Failed Options
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were put to a popular referendum, a move that threw Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome and negotiate a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted 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 that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He also claimed how his aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
This account of events has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
