In a recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, he appointed that maverick academic Varoufakis to be his treasury head primarily due to his global profile along with his highly compelling skills as a communicator.
“He was, actually, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had his own motives that involved promoting his books and experimenting with his game theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted that those discussions to prevent bankruptcy were “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile discussions, the country found itself perilously close to exiting the eurozone.
At stake lay both the country's future but also the punishing austerity policies required in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a public vote, an action that plunged Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
