In a freshly published personal account, called Ithaki, the ex- leader Tsipras does not hold back while he revisits that chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he selected that maverick academic Varoufakis as his treasury head largely because of his international reputation and his “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives that included advancing Varoufakis's books and testing out his own game theories using the nation instead of truly advocating the country's economic stability.
Tsipras wrote how those discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future but also those harsh austerity policies demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those punitive conditions were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by those against the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for Grexit.
The retelling of events has been met with anger along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
