In a newly released personal account, called Ithaki, the ex- premier Tsipras pulls no punches as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's account, he chose that maverick academic Varoufakis as his finance minister mainly because of his international reputation along with Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis possessed his own agenda which included advancing his publications and testing out his own game theories on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that those talks to stave off insolvency became “not only a method of achieving a better deal for the country. They became a test, a monumental chance to prove the validity of his economic theories.”
Critical Talks
During volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line was both the country's future but also those harsh austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister was forced to ignore the result then negotiate a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
The account of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
