Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras does not hold back while he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras appointed the maverick academic Varoufakis to be his finance minister primarily due to the latter's international reputation along with his very persuasive abilities as a communicator.
“He was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had his own motives which involved advancing his books as well as experimenting with his own game theories on Greece instead of truly advocating its economic stability.
He explained how those talks to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
On the line was both the country's future and the severe austerity policies required in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes that his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
This account of history has been met with fury and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
