Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he appointed the maverick academic Varoufakis as his treasury head largely due to the latter's worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal motives which involved advancing Varoufakis's publications as well as testing out his own economic models using Greece instead of truly fighting for the country's financial survival.
He wrote that the negotiations to stave off insolvency became “not just a method to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously on the brink of leaving the eurozone.
On the line was both the country's destiny but also those punishing austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into further existential crisis.
Although the referendum was won decisively by those who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of history has been met with fury along with shock in some quarters, while the former minister has so far kept a deafening silence on the matter.
