Within his newly released personal account, named Ithaki, the former premier Tsipras does not hold back while he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, he appointed that unorthodox economist Varoufakis to be his treasury head primarily due to his worldwide fame and his highly compelling abilities when it came to public orator.
“In reality, he was, actually, more of a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed his own agenda that included promoting his books and testing out his game theories using the nation instead of genuinely fighting for its financial survival.
He noted that those discussions to prevent insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came perilously close to leaving the eurozone.
On the line lay both Greece's future but also the harsh austerity policies required in return for financial aid by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a public vote, a move which threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
