Within his newly released personal account, called Ithaki, the ex- premier Tsipras pulls no punches while he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, he appointed the unorthodox academic Varoufakis to be the finance minister mainly due to the latter's global profile and his highly compelling abilities as a communicator.
“He was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests that his finance chief had his own agenda which involved promoting his publications as well as experimenting with his own game theories using Greece rather than truly fighting for the country's economic stability.
Tsipras wrote that the discussions to prevent insolvency were “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's future and those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, those punitive bailout terms were put to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras had little option but to reject its outcome and negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
He also wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
