Within his recently unveiled personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he revisits that chaotic era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, he selected that unorthodox economist Varoufakis to be the finance minister largely due to the latter's global profile along with his very persuasive skills when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief had his own motives that involved advancing his books and experimenting with his theories on the nation rather than truly fighting for the country's financial survival.
Tsipras wrote that those negotiations to prevent insolvency became “not only a method of achieving a better deal for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself perilously on the brink of leaving the single currency area.
At stake was both the country's future and those harsh austerity policies required in return for financial aid from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a public vote, an action which threw the EU into a further existential crisis.
Although the vote was won decisively by those against the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
