Within his freshly published personal account, titled Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that turbulent period of Greece's debt drama.
A Controversial Choice
In Tsipras's account, he selected the unorthodox economist Varoufakis as the treasury head mainly due to his worldwide fame and his very persuasive skills as a communicator.
“He was, actually, more of a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own agenda which involved promoting his books and experimenting with his theories on the nation rather than genuinely advocating its economic stability.
He wrote that those negotiations to stave off bankruptcy became “not just a way to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and the punishing austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a public vote, a move which threw Europe into further existential crisis.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for Grexit.
The account of history has been met with fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
