In a freshly published memoir, titled Ithaki, the ex- premier Tsipras does not hold back as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, he chose that maverick economist Varoufakis to be his treasury head mainly due to his international reputation and his “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis possessed a personal motives that included promoting his publications and experimenting with his own game theories on the nation instead of genuinely advocating its financial survival.
He noted how the talks to avoid insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the single currency area.
On the line lay both the country's destiny and the punishing austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move which threw Europe into further crisis of identity.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive management.”
He further wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
