Within his newly released personal account, named Ithaki, the former leader Tsipras pulls no punches as he reflects on the chaotic period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he selected the unorthodox academic Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's very persuasive skills as a speaker.
“He was, truthfully, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims that Varoufakis had a personal motives which included promoting his books as well as testing out his own game theories on the nation rather than genuinely advocating the country's financial survival.
He explained how the talks to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country came dangerously close to leaving the eurozone.
On the line lay not only Greece's future and those punishing austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also wrote how his aggressive style left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
