In a freshly published autobiography, titled Ithaki, the former leader Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he selected the unorthodox economist Varoufakis as the treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive skills as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed his own motives which included advancing his books as well as experimenting with his own game theories using the nation rather than truly fighting for the country's economic stability.
He wrote how the talks to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously on the brink of leaving the eurozone.
On the line lay both Greece's destiny and those severe austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move that plunged the EU into a further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package from creditors which proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
He further wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The account of history has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
