In a freshly published memoir, titled Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, Tsipras chose that maverick economist Varoufakis as the finance minister mainly due to his global profile along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had his own agenda that involved advancing Varoufakis's books as well as testing out his own game theories using Greece instead of truly advocating the country's financial survival.
He wrote that those negotiations to avoid insolvency were “not just a method of achieving a better deal for the country. They were a test, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, the country came perilously on the brink of leaving the eurozone.
At stake was not only the country's future and those punishing austerity measures required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, a move that threw Europe into a deeper existential crisis.
Although the vote was won decisively by voters against austerity, the prime minister was forced to ignore the result then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive management.”
Tsipras also wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
