In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, he appointed the maverick academic Varoufakis to be the treasury head primarily due to the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed his own agenda which involved promoting his publications as well as experimenting with his game theories using Greece instead of truly advocating its financial survival.
He explained how those discussions to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay not only the country's destiny and the severe austerity policies required in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the punitive conditions were put to a popular referendum, an action that threw Europe into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
This retelling of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
