Within his freshly published autobiography, named Ithaki, the former leader Tsipras does not hold back while he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, he chose the maverick economist Varoufakis to be the treasury head largely due to the latter's worldwide fame along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims that his finance chief had his own agenda which included promoting his publications and testing out his own game theories using Greece instead of genuinely advocating its economic stability.
He explained how the discussions to stave off bankruptcy were “not only a way to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
During tense discussions, the country found itself perilously on the brink of exiting the single currency area.
On the line lay not only the country's destiny and the severe austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those punitive conditions were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Although the vote was won decisively by voters against the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
