In a freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, he appointed that unorthodox academic Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's very persuasive abilities as a communicator.
“He was, in reality, more of a star and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis had his own agenda which included promoting Varoufakis's books and experimenting with his own game theories using Greece rather than truly advocating its economic stability.
He wrote how those negotiations to stave off insolvency were “not only a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of his theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously close to exiting the single currency area.
At stake was both the country's destiny and the severe austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras further wrote how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
