Within his newly released personal account, titled Ithaki, the ex- premier Tsipras pulls no punches as he reflects on the turbulent period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, he selected the unorthodox academic Varoufakis to be his treasury head mainly due to his global profile and his “extremely attractive” skills as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis possessed a personal motives which included promoting Varoufakis's books as well as experimenting with his own game theories on the nation rather than genuinely fighting for its economic stability.
He explained how the negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the single currency area.
On the line was not only the country's future and the harsh cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Even though the vote was won resoundingly by those against austerity, Tsipras had little option to reject its outcome then agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras also claimed how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
