In a newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own agenda that included promoting Varoufakis's publications and experimenting with his economic models using the nation instead of genuinely fighting for its economic stability.
He wrote that those negotiations to prevent bankruptcy were “not only a method to secure a better deal for the country. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny but also those harsh austerity measures demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw the EU into deeper existential crisis.
Even though 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 turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author asserts that his former ally had proved himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has kept a deafening silence on the matter.
