In a newly released memoir, called Ithaki, the ex- leader Tsipras does not hold back as he reflects on that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he appointed the unorthodox economist Varoufakis to be the finance minister primarily because of the latter's worldwide fame along with his “extremely attractive” skills when it came to public orator.
“He was, in reality, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own motives that involved advancing his books as well as testing out his own game theories on the nation instead of genuinely advocating its economic stability.
He noted that those negotiations to avoid bankruptcy became “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
On the line lay not only Greece's future and those harsh cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced to reject its outcome and agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes that his former ally had proved himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras further wrote how his aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for 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 maintained a deafening silence regarding these claims.
