Within his newly released memoir, named Ithaki, the former leader Tsipras pulls no punches as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he chose that unorthodox academic Varoufakis to be the treasury head mainly due to his international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“He was, in reality, more of a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed his own motives that included promoting his publications as well as testing out his own game theories using Greece instead of truly fighting for the country's economic stability.
Tsipras noted how those talks to stave off bankruptcy were “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of his ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake lay both Greece's future but also those punishing austerity measures demanded in exchange for bailout funds by international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action that threw Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option but to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Lasting Criticism
In the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He also claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
