Within his newly released autobiography, called Ithaki, the former premier Tsipras pulls no punches while he examines that chaotic era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis as his treasury head mainly because of his global profile and Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed his own agenda that involved promoting his publications as well as testing out his game theories on the nation instead of truly advocating the country's economic stability.
Tsipras explained that the talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid tense negotiations, Greece came dangerously close to exiting the eurozone.
At stake was both Greece's future and those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, a move which threw the EU into a deeper existential crisis.
Even though the vote was carried decisively by those against austerity, Tsipras had little option but to reject its outcome then agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also wrote that his aggressive approach made him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has been met with fury and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
