In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras does not hold back as he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, he chose the unorthodox economist Varoufakis as his finance minister primarily because of the latter's global profile along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal motives that included promoting his publications and experimenting with his economic models using the nation rather than truly advocating the country's economic stability.
He noted that those negotiations to stave off bankruptcy became “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously close to exiting the single currency area.
On the line was both Greece's future and those severe austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the vote was won decisively by voters against austerity, the prime minister had little option but to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He also wrote that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
