In a freshly published autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed that maverick economist Varoufakis as his finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had his own motives which involved advancing Varoufakis's publications and experimenting with his own game theories on the nation instead of genuinely fighting for its financial survival.
He explained how those discussions to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously close to exiting the single currency area.
At stake lay both Greece's future and those punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive conditions were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal with creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote how his confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This account of history has provoked fury and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
