In a recently unveiled autobiography, named Ithaki, the former prime minister Tsipras does not hold back as he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, he appointed that unorthodox economist Varoufakis as the finance minister largely because of his international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal motives which involved advancing his books and testing out his economic models using Greece rather than truly fighting for the country's economic stability.
Tsipras noted how those talks to avoid bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
Amid volatile negotiations, Greece came perilously close to exiting the single currency area.
On the line lay not only Greece's destiny but also the punishing austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action that plunged the EU into a further existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He further wrote how his aggressive style left him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The retelling of events has been met with fury and shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
