In a freshly published autobiography, called Ithaki, the ex- leader Tsipras does not hold back as he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, Tsipras chose the unorthodox economist Varoufakis as the finance minister mainly because of the latter's worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had his own motives which included advancing his publications and experimenting with his own game theories on the nation instead of genuinely fighting for its financial survival.
Tsipras explained that the negotiations to prevent insolvency were “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake was both the country's future and those severe austerity measures required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of events has been met with anger and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
