Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras appointed the maverick economist Varoufakis as his finance minister primarily due to the latter's international reputation and his “extremely attractive” skills as a speaker.
“He was, in reality, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved promoting Varoufakis's publications and testing out his own game theories on the nation instead of truly advocating the country's economic stability.
Tsipras wrote that those talks to stave off insolvency were “not just a way of achieving improved terms for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to exiting the eurozone.
On the line lay both Greece's destiny but also the harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move which plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras had little option to reject its outcome then agree to a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, Tsipras knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He also wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
This account of history has been met with anger along with shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
