In a newly released autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he revisits the chaotic era during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he selected that unorthodox academic Varoufakis as the finance minister largely because of the latter's worldwide fame and Varoufakis's very persuasive skills as a communicator.
“He was, actually, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda which included promoting Varoufakis's publications and experimenting with his own game theories using Greece instead of genuinely advocating the country's financial survival.
He noted that the talks to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
During tense negotiations, Greece came perilously close to leaving the single currency area.
At stake lay both the country's future but also those severe austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action which threw Europe into a further crisis of identity.
Although the referendum was won resoundingly by voters against austerity, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
