Within his freshly published autobiography, titled Ithaki, the former leader Tsipras does not hold back while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, he appointed the unorthodox economist Varoufakis to be the treasury head largely due to his worldwide fame and his highly compelling skills as a communicator.
“He was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis had his own motives that included advancing his books and experimenting with his own game theories on Greece instead of genuinely advocating the country's economic stability.
He explained how those discussions to stave off bankruptcy became “not only a method to secure improved terms for Greece. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense negotiations, the country found itself perilously close to leaving the single currency area.
On the line was both Greece's destiny and those severe austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were put to a public vote, a move which threw Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to ignore the result then agree to a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
He also wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating Grexit.
The retelling of history has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
