Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras does not hold back as he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he selected the maverick economist Varoufakis as his treasury head largely due to the latter's international reputation and his highly compelling abilities as a public orator.
“He was, truthfully, more of a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own motives that included promoting his publications as well as experimenting with his own game theories on Greece rather than truly advocating the country's financial survival.
Tsipras wrote how those talks to stave off insolvency became “not just a way of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, the country came dangerously close to exiting the eurozone.
At stake was not only the country's future and those punishing austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, a move that threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters against austerity, the prime minister was forced to ignore the result then agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
