Within his recently unveiled personal account, called Ithaki, the former premier Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, Tsipras chose that unorthodox economist Varoufakis as his finance minister primarily because of his international reputation and his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief possessed a personal agenda that included advancing his books and testing out his game theories using Greece rather than genuinely fighting for the country's economic stability.
He wrote how those talks to stave off bankruptcy were “not only a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, Greece came dangerously close to exiting the eurozone.
On the line was not only the country's destiny but also the punishing austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the referendum was won decisively by those against austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing coupons to retirees, Tsipras knew it was the end and asked him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further claimed how his confrontational style made him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.
