In a newly released personal account, titled Ithaki, the ex- premier Tsipras spares no criticism while he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected that maverick academic Varoufakis to be his finance minister mainly due to his worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal motives that involved advancing Varoufakis's publications as well as experimenting with his game theories on Greece instead of truly advocating the country's financial survival.
Tsipras wrote how those discussions to stave off bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake lay not only the country's destiny and those severe austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that plunged the EU into further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate management.”
He also wrote that his confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
