Within his newly released autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches while he reflects on that chaotic era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he selected that unorthodox academic Varoufakis as the treasury head largely because of his worldwide fame and his very persuasive skills as a public orator.
“In reality, he was, actually, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis possessed his own motives that included promoting his publications as well as experimenting with his theories on Greece instead of genuinely fighting for its financial survival.
He explained that those discussions to stave off bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece came perilously close to exiting the single currency area.
On the line lay not only Greece's destiny but also the harsh austerity measures demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, a move which threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
He further wrote that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
This retelling of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
