Within his freshly published personal account, called Ithaki, the former leader Tsipras pulls no punches as he examines that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, he chose the maverick academic Varoufakis to be the finance minister largely due to the latter's international reputation along with his very persuasive skills as a communicator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed his own motives which included advancing Varoufakis's books and experimenting with his own game theories on Greece rather than truly fighting for its financial survival.
He wrote that those talks to avoid bankruptcy became “not only a way to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line was not only Greece's future but also the harsh cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action that threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to reject its outcome and agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a secondary currency and distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
He further claimed that his aggressive style left him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
This retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
