In a newly released autobiography, titled Ithaki, the ex- prime minister Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, he selected that unorthodox academic Varoufakis to be the treasury head mainly because of the latter's worldwide fame and his highly compelling abilities when it came to speaker.
“He was, in reality, more like a star and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal agenda which involved promoting his books and experimenting with his game theories using Greece instead of truly advocating the country's financial survival.
Tsipras wrote how those talks to avoid insolvency became “not only a way of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
On the line lay not only the country's future and those harsh austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Even though the referendum was won resoundingly by those against austerity, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury and shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
