In a freshly published personal account, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, he chose that unorthodox economist Varoufakis to be his treasury head mainly because of his worldwide fame and his very persuasive skills as a speaker.
“He was, actually, more like a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had a personal agenda which involved advancing Varoufakis's publications and testing out his own economic models on the nation rather than truly advocating the country's financial survival.
He noted that those discussions to avoid bankruptcy became “not only a method to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During tense discussions, the country came dangerously close to leaving the single currency area.
At stake lay both Greece's future but also those severe austerity measures demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh conditions were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister had little option to ignore the result then agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
