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 economic turmoil.
A Controversial Appointment
As per the ex-PM's account, he chose the maverick academic Varoufakis to be his finance minister largely because of his international reputation along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief had a personal motives which included advancing Varoufakis's books as well as testing out his own theories using Greece instead of truly advocating the country's financial survival.
He wrote that those discussions to stave off insolvency were “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously close to exiting the eurozone.
On the line was both the country's destiny and those severe austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was won resoundingly by those against austerity, Tsipras had little option to ignore the result and negotiate a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM claimed 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 the spotlight.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and distributing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how his aggressive style made him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.
