In a freshly published personal account, titled Ithaki, the ex- premier Tsipras pulls no punches while he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras chose that unorthodox academic Varoufakis to be his treasury head mainly because of his international reputation along with his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis had his own agenda which included promoting his publications as well as testing out his theories on Greece rather than truly advocating the country's economic stability.
Tsipras explained how the talks to prevent bankruptcy became “not only a method of achieving improved terms for the country. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Talks
During tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay both Greece's destiny but also those punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome and agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
