In a recently unveiled personal account, titled Ithaki, the former prime minister Tsipras does not hold back while he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, he selected the maverick academic Varoufakis to be the treasury head largely because of the latter's international reputation and his very persuasive abilities as a communicator.
“He was, truthfully, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis had his own agenda that involved advancing his books as well as testing out his own game theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained how the negotiations to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay both Greece's destiny and the punishing austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those punitive conditions were put to a popular referendum, an action that threw the EU into further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras also claimed how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
