Within his newly released autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back as he examines that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, Tsipras chose that unorthodox economist Varoufakis to be the finance minister largely because of his worldwide fame along with his very persuasive skills when it came to communicator.
“He was, actually, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal agenda which included advancing Varoufakis's books as well as experimenting with his theories on the nation instead of genuinely fighting for its economic stability.
He noted how those discussions to avoid insolvency became “not just a way to secure a better deal for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense negotiations, the country found itself dangerously close to leaving the single currency area.
On the line was both Greece's destiny and the punishing austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
He further claimed that Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
