Within his freshly published autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits that turbulent period during Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he appointed that unorthodox economist Varoufakis to be his finance minister largely due to the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis had his own agenda that included promoting Varoufakis's publications and testing out his economic models using Greece instead of genuinely advocating its financial survival.
He noted that the negotiations to prevent insolvency became “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both Greece's destiny and the severe austerity measures required in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Although the vote was won decisively by voters against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency and distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate handling.”
He also claimed that his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
