In a recently unveiled autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that turbulent period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, he selected the unorthodox academic Varoufakis to be his finance minister mainly due to the latter's worldwide fame and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal agenda that included promoting his books as well as experimenting with his own game theories using Greece instead of genuinely fighting for the country's financial survival.
He explained how those discussions to stave off insolvency were “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's future but also the harsh austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, an action that threw Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome and negotiate a bailout package with creditors that turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
