Within his recently unveiled autobiography, called Ithaki, the ex- leader Tsipras does not hold back as he examines the chaotic era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed the unorthodox economist Varoufakis as his finance minister largely due to his global profile along with his very persuasive abilities as a communicator.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own motives that involved advancing his books as well as testing out his own game theories using the nation rather than truly fighting for its financial survival.
Tsipras noted how those discussions to avoid bankruptcy became “not just a method to secure a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both the country's future and those severe austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were put to a public vote, a move that threw Europe into further existential crisis.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
