In a recently unveiled autobiography, called Ithaki, the former premier Tsipras does not hold back while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, Tsipras selected that maverick academic Varoufakis as his finance minister primarily due to his worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own agenda that involved advancing his books and experimenting with his own game theories using the nation instead of truly fighting for the country's financial survival.
He wrote how the discussions to prevent bankruptcy became “not only a method of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself perilously close to exiting the single currency area.
At stake was both Greece's future and those severe cutbacks required in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
He further claimed that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
The account of events has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
