Within his newly released autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, he chose the unorthodox economist Varoufakis to be the finance minister primarily because of his global profile along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, actually, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief possessed his own motives that included promoting his publications as well as testing out his game theories using the nation rather than truly advocating the country's economic stability.
He noted how the talks to prevent bankruptcy were “not just a method to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, Greece came perilously close to exiting the eurozone.
At stake was not only Greece's future and the harsh austerity policies demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts how Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
He further claimed how Varoufakis's 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 history has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
