Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras appointed that unorthodox academic Varoufakis as the finance minister mainly due to the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had his own agenda which included promoting his publications as well as experimenting with his own game theories using the nation rather than truly advocating the country's economic stability.
He noted that the negotiations to avoid bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only the country's future but also the severe austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate management.”
He also wrote how his confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This retelling of events has been met with fury along with shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
