In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he selected that unorthodox academic Varoufakis as his treasury head primarily due to his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives which involved advancing his publications and testing out his game theories using the nation rather than genuinely fighting for its financial survival.
Tsipras explained that those discussions to prevent insolvency were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both the country's destiny but also the severe austerity policies required in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed that his confrontational approach left him more and more alone among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger and shock in some quarters, while the former minister has so far kept a deafening silence on the matter.
