Within his recently unveiled personal account, called Ithaki, the former prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that maverick academic Varoufakis to be his treasury head primarily due to his global profile along with his very persuasive skills as a speaker.
“In reality, he was, actually, more like a personality rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had his own agenda which included advancing his books as well as testing out his own game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only the country's destiny and those harsh cutbacks demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
