In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, he appointed that unorthodox academic Varoufakis to be his finance minister primarily due to his worldwide fame along with his very persuasive skills as a public orator.
“He was, in reality, more like a star rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal agenda that involved promoting his publications and experimenting with his own game theories using Greece instead of genuinely fighting for its economic stability.
He noted how the talks to prevent bankruptcy became “not only a way to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's future but also those punishing cutbacks demanded in return for rescue loans from international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action that plunged Europe into further existential crisis.
Although the referendum was carried decisively by those against austerity, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
