Within his newly released personal account, titled Ithaki, the ex- leader Tsipras does not hold back as he revisits the turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he selected that unorthodox academic Varoufakis as his finance minister largely due to the latter's worldwide fame and his highly compelling skills when it came to public orator.
“He was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief possessed his own agenda that involved advancing his publications as well as experimenting with his economic models on the nation instead of genuinely advocating the country's economic stability.
He noted that the discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They became a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself perilously close to leaving the single currency area.
At stake was both the country's future and the severe austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive handling.”
He also claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
The account of history has been met with anger and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
