In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches while he examines the chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, he selected that unorthodox academic Varoufakis as his treasury head largely due to the latter's global profile along with his highly compelling abilities when it came to public orator.
“He was, in reality, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives that involved promoting his publications and experimenting with his economic models using Greece instead of genuinely advocating the country's economic stability.
He noted that those discussions to prevent insolvency were “not just a method to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to ignore the result and agree to a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself “unfit for an agreement demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
