Within his newly released autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed that unorthodox economist Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with his very persuasive skills as a speaker.
“He was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives that included promoting his publications as well as testing out his game theories using Greece rather than truly advocating the country's economic stability.
Tsipras explained that those discussions to stave off insolvency were “not only a way to secure a better deal for the country. They became a test, a monumental chance to prove the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
At stake lay both Greece's destiny but also those harsh austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
The account of history has provoked fury and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
