In a recently unveiled memoir, called Ithaki, the former leader Tsipras does not hold back while he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the unorthodox academic Varoufakis to be his finance minister largely due to the latter's global profile and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how his finance chief had his own motives that involved advancing Varoufakis's books and experimenting with his economic models using the nation rather than truly advocating its economic stability.
Tsipras wrote how the talks to stave off insolvency were “not just a way to secure a better deal for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of exiting the single currency area.
At stake was not only the country's future and the harsh cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action that threw the EU into a further crisis of identity.
Although the referendum was won decisively by those against austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He further wrote that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.