In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back while he revisits that turbulent era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he chose the maverick economist Varoufakis as the finance minister mainly because of his international reputation and his highly compelling abilities as a communicator.
“He was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed a personal agenda that involved advancing his books and testing out his theories using Greece rather than genuinely advocating the country's economic stability.
Tsipras noted that the negotiations to stave off insolvency became “not only a method to secure improved terms for the country. They were a test, a monumental chance to prove the truth of his theories.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake lay not only the country's destiny and the severe austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a public vote, an action which plunged the EU into further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
