In a freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he reflects on that chaotic era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras appointed the unorthodox economist Varoufakis as his finance minister primarily because of his global profile and his highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis had a personal agenda that involved advancing Varoufakis's books and testing out his game theories using Greece rather than truly advocating the country's financial survival.
Tsipras explained how those discussions to stave off insolvency were “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During volatile discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay both the country's destiny and those punishing austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, a move which plunged Europe into a deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras had little option to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
He also wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
