Within his newly released personal account, titled Ithaki, the former premier Tsipras does not hold back while he reflects on that turbulent era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras appointed that maverick academic Varoufakis as his treasury head largely due to his international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal motives which included promoting his publications and testing out his economic models on Greece instead of genuinely advocating the country's economic stability.
He wrote that the negotiations to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny but also the punishing cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself “unfit for a deal demanding complex and delicate management.”
He also claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating Grexit.
This account of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
