In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras spares no criticism as he revisits that turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's recollections, Tsipras chose the maverick economist Varoufakis as the finance minister mainly due to the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had a personal agenda which included promoting his publications and testing out his own game theories using the nation instead of truly advocating the country's financial survival.
He noted how those discussions to stave off bankruptcy were “not only a method to secure improved terms for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During tense discussions, Greece came perilously close to exiting the single currency area.
On the line lay not only the country's destiny but also the punishing austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from creditors that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive management.”
He further wrote how his aggressive approach left him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
The account of history has been met with anger and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
