In a recently unveiled personal account, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on that chaotic period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he appointed the unorthodox economist Varoufakis to be the treasury head mainly because of his global profile along with his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis had his own agenda that included advancing Varoufakis's publications and experimenting with his own theories using Greece instead of truly fighting for the country's financial survival.
He wrote that those discussions to prevent bankruptcy were “not just a method of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
During volatile discussions, the country came perilously on the brink of leaving the single currency area.
On the line was not only Greece's future but also those severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Efforts to find funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome then agree to a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
This retelling of events has provoked anger along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
