Within his newly released autobiography, called Ithaki, the former premier Tsipras pulls no punches as he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected the unorthodox academic Varoufakis as the finance minister largely due to the latter's worldwide fame along with his highly compelling skills as a public orator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief possessed his own agenda that included promoting his publications as well as testing out his theories using Greece instead of truly advocating the country's financial survival.
He explained how those discussions to stave off bankruptcy became “not only a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only the country's destiny but also the severe austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the vote was won decisively by voters against austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
