Within his freshly published personal account, called Ithaki, the ex- premier Tsipras does not hold back while he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed that maverick academic Varoufakis to be the treasury head largely due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis had his own agenda which involved advancing Varoufakis's books and experimenting with his own theories on the nation instead of truly fighting for the country's economic stability.
Tsipras explained that those discussions to avoid insolvency became “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country came perilously close to exiting the single currency area.
At stake lay not only Greece's destiny but also those severe austerity policies demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a public vote, a move which plunged Europe into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
He further wrote that his confrontational style made him more and more alone among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
