Within his freshly published memoir, called Ithaki, the ex- premier Tsipras does not hold back while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, he selected that maverick academic Varoufakis to be the treasury head largely due to the latter's international reputation and Varoufakis's highly compelling skills as a communicator.
“He was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had a personal motives that included promoting his publications as well as testing out his theories using Greece instead of truly fighting for its financial survival.
Tsipras wrote that the discussions to avoid insolvency were “not just a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was both the country's destiny but also those severe austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also wrote that his confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating Grexit.
The account of events has been met with fury and shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
