Within his recently unveiled autobiography, titled Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, he selected the maverick academic Varoufakis as the finance minister mainly due to the latter's worldwide fame and Varoufakis's very persuasive skills as a public orator.
“He was, actually, more of a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had a personal motives that involved advancing his books and testing out his own game theories on the nation rather than genuinely advocating its economic stability.
He noted that those discussions to prevent bankruptcy became “not just a method of achieving a better deal for the country. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense discussions, Greece came dangerously close to leaving the single currency area.
At stake was both the country's destiny but also the punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required complex and delicate management.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while helped hawks who were pushing for Grexit.
This account of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
