In a freshly published autobiography, titled Ithaki, the ex- leader Tsipras does not hold back while he reflects on that chaotic period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed that maverick academic Varoufakis to be the finance minister largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda which involved promoting his publications and experimenting with his own economic models using the nation rather than genuinely advocating the country's financial survival.
He wrote how those discussions to stave off bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, a monumental chance to prove the truth of his theories.”
Critical Talks
During rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
At stake was both the country's future but also those severe cutbacks required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes how his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
