Within his recently unveiled personal account, titled Ithaki, the former leader Tsipras pulls no punches while he reflects on that chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, he appointed the maverick academic Varoufakis as the treasury head largely because of the latter's worldwide fame along with his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own agenda which included promoting Varoufakis's books as well as experimenting with his own economic models using Greece instead of genuinely advocating the country's economic stability.
Tsipras noted how the talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his ideas.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future and the punishing austerity policies demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move which threw the EU into further existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
