In a freshly published autobiography, named Ithaki, the former leader Tsipras does not hold back while he revisits that turbulent period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he chose that unorthodox academic Varoufakis to be his finance minister primarily due to his international reputation along with his “extremely attractive” skills when it came to public orator.
“He was, actually, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives which included promoting Varoufakis's books and testing out his theories on the nation rather than truly fighting for its financial survival.
He explained that the negotiations to prevent insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to leaving the eurozone.
At stake lay both the country's future but also the punishing austerity policies demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was the end and asked him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He further claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of events has been met with anger along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
