Within his freshly published autobiography, named Ithaki, the former leader Tsipras does not hold back as he reflects on the chaotic period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he chose the unorthodox economist Varoufakis as his finance minister primarily because of his global profile along with his “extremely attractive” abilities as a communicator.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had his own agenda that included advancing Varoufakis's publications and experimenting with his game theories on Greece instead of truly advocating its economic stability.
He noted how the discussions to prevent bankruptcy were “not just a way to secure a better deal for the country. They were a test, an historic chance to prove the validity of his theories.”
Critical Talks
Amid tense negotiations, Greece came perilously close to leaving the eurozone.
On the line lay both the country's future and those severe austerity policies required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were put to a public vote, an action that plunged the EU into a further existential crisis.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate management.”
Tsipras further wrote how his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
The account of events has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
