In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, he selected the unorthodox academic Varoufakis as the finance minister primarily due to the latter's global profile along with his “extremely attractive” skills as a communicator.
“He was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had his own motives that included promoting his publications as well as experimenting with his own game theories on Greece instead of truly advocating the country's economic stability.
Tsipras noted that the discussions to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line lay not only the country's future but also those severe austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Although the vote was won decisively by those against austerity, the prime minister had little option to ignore the result and agree to a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
The account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
