Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent period during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected that maverick economist Varoufakis to be his finance minister mainly because of the latter's global profile and his very persuasive abilities as a communicator.
“He was, actually, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had a personal agenda that involved advancing his publications as well as experimenting with his game theories using the nation instead of truly advocating its economic stability.
Tsipras explained how the discussions to prevent insolvency were “not just a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
On the line lay not only the country's destiny but also those harsh cutbacks required in return for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras also wrote how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
The account of events has provoked fury and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
