In a freshly published autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that unorthodox academic Varoufakis to be the treasury head primarily due to the latter's international reputation along with his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had a personal motives that involved advancing Varoufakis's books and experimenting with his own game theories on Greece instead of genuinely fighting for its financial survival.
He noted how those discussions to avoid insolvency were “not just a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future but also those harsh austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unfit for a deal that required complex and delicate management.”
Tsipras further claimed that his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
