Within his newly released autobiography, titled Ithaki, the former premier Tsipras spares no criticism while he revisits the chaotic period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, he appointed the unorthodox economist Varoufakis as the treasury head largely because of the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis possessed his own agenda which involved promoting his books as well as experimenting with his game theories on Greece instead of truly advocating the country's financial survival.
He explained how those talks to avoid bankruptcy were “not just a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny and the severe austerity measures required in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive bailout terms were put to a public vote, a move that threw Europe into a further existential crisis.
Although the referendum was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating Grexit.
The account of events has provoked anger along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
