In a freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that chaotic era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, Tsipras appointed that maverick academic Varoufakis as his finance minister primarily because of the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief had a personal motives which involved advancing Varoufakis's books and testing out his own game theories using the nation rather than truly advocating its financial survival.
He noted that those talks to avoid bankruptcy were “not just a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to exiting the single currency area.
On the line lay not only the country's destiny but also the severe austerity policies demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a further existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors which turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also claimed that his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has been met with fury and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
