Within his freshly published personal account, titled Ithaki, the former prime minister Tsipras does not hold back while he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, Tsipras chose that unorthodox academic Varoufakis to be his finance minister mainly due to his worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal motives that included advancing Varoufakis's books and experimenting with his economic models using Greece rather than truly fighting for the country's economic stability.
Tsipras wrote how the discussions to avoid insolvency were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, the country came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's future but also the harsh austerity measures demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action which threw the EU into deeper existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
The retelling of events has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
