In a recently unveiled memoir, named Ithaki, the former prime minister Tsipras pulls no punches while he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras appointed that maverick academic Varoufakis as the finance minister mainly because of the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis had his own motives that involved advancing his books as well as testing out his own game theories on Greece rather than truly fighting for its economic stability.
He explained that those negotiations to prevent insolvency were “not only a way of achieving a better deal for the country. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense negotiations, Greece came perilously close to leaving the eurozone.
On the line was not only the country's destiny but also those severe austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were put to a public vote, a move which plunged the EU into a deeper existential crisis.
Even though the vote was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
