In a newly released memoir, titled Ithaki, the former premier Tsipras pulls no punches while he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras appointed that maverick economist Varoufakis to be the finance minister mainly due to his international reputation and Varoufakis's very persuasive abilities when it came to public orator.
“He was, truthfully, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief possessed a personal agenda that included advancing his publications as well as testing out his economic models using Greece instead of truly advocating the country's financial survival.
He noted that the talks to prevent insolvency were “not just a way to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future but also the punishing austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
