Within his recently unveiled autobiography, named Ithaki, the former leader Tsipras does not hold back while he revisits the chaotic period of Greece's financial crisis.
A Controversial Appointment
In Tsipras's recollections, he selected that unorthodox economist Varoufakis as his finance minister largely due to his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal agenda which involved advancing his publications and testing out his own game theories on the nation rather than genuinely advocating the country's economic stability.
He explained that the discussions to stave off insolvency were “not only a way of achieving a better deal for the country. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny but also the severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Although the referendum was won decisively by voters against austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He further wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of events has been met with fury along with shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
