Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches while he examines the chaotic era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, he chose the maverick economist Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal agenda which involved promoting Varoufakis's publications and experimenting with his own game theories on Greece rather than genuinely fighting for its financial survival.
He noted that the negotiations to prevent insolvency were “not just a method to secure a better deal for Greece. They were a test, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came perilously close to leaving the single currency area.
At stake lay both Greece's future and the harsh cutbacks required in exchange for financial aid from foreign lenders.
Failed Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, an action which threw Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, the prime minister had little option to ignore the result then agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were advocating Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
