In a freshly published memoir, titled Ithaki, the former leader Tsipras pulls no punches as he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, he chose the unorthodox economist Varoufakis to be his finance minister mainly because of the latter's international reputation along with his highly compelling skills as a speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had his own motives that included advancing Varoufakis's books and testing out his own theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras noted how those discussions to avoid bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came dangerously close to exiting the eurozone.
At stake lay not only Greece's future but also those harsh austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
