Within his freshly published personal account, called Ithaki, the former premier Tsipras does not hold back while he reflects on that turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, Tsipras selected the unorthodox economist Varoufakis to be his finance minister mainly due to the latter's international reputation along with his highly compelling abilities as a speaker.
“He was, actually, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal motives which involved advancing Varoufakis's publications and experimenting with his own game theories on Greece rather than genuinely fighting for the country's economic stability.
Tsipras explained how the discussions to avoid insolvency were “not only a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line was both the country's destiny and those severe austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, a move that plunged the EU into further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how his former ally had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
He further wrote that his aggressive style made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The account of history has been met with fury and shock among certain groups, while the former minister has kept a deafening silence on the matter.
