In a freshly published memoir, titled Ithaki, the former premier Tsipras pulls no punches while he examines the turbulent era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras selected that maverick economist Varoufakis as the finance minister mainly due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda that included advancing his publications and experimenting with his game theories on the nation rather than genuinely advocating its financial survival.
He explained that the negotiations to avoid insolvency became “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's future and the harsh austerity measures required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move which threw the EU into further existential crisis.
Even though the vote was won decisively by voters against austerity, Tsipras had little option but to reject its outcome then negotiate a bailout package from foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating Grexit.
The account of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
