In a freshly published autobiography, named Ithaki, the former prime minister Tsipras does not hold back as he examines that chaotic period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, he selected that maverick economist Varoufakis to be the treasury head mainly due to his worldwide fame and his “extremely attractive” skills when it came to public orator.
“He was, in reality, more like a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed his own motives that involved advancing his publications as well as testing out his own game theories on the nation rather than genuinely fighting for its economic stability.
Tsipras noted how those discussions to stave off insolvency were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny and the punishing cutbacks required in return for rescue loans from international creditors.
Failed Options
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras also claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The account of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
