Within his newly released autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits that chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, he appointed that unorthodox academic Varoufakis as the treasury head largely because of the latter's global profile along with his highly compelling abilities when it came to public orator.
“He was, actually, more of a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal agenda which included promoting his publications as well as experimenting with his game theories on the nation rather than truly advocating the country's financial survival.
He noted that the talks to stave off insolvency were “not just a way to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously close to exiting the single currency area.
At stake was not only the country's future and those harsh austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the referendum was won decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a bailout package with creditors which turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further wrote how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The account of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
