In a recently unveiled personal account, called Ithaki, the former prime minister Tsipras does not hold back as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, he appointed the unorthodox academic Varoufakis as the finance minister primarily because of his global profile and Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal motives which included promoting his publications as well as experimenting with his own game theories using Greece rather than genuinely advocating the country's economic stability.
He wrote that the talks to prevent insolvency were “not just a way of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
During tense negotiations, Greece came perilously close to leaving the eurozone.
At stake was both Greece's destiny but also those punishing austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result and agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This retelling of history has provoked anger and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
