In a freshly published personal account, called Ithaki, the ex- leader Tsipras pulls no punches as he reflects on the chaotic period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he selected that maverick economist Varoufakis as his treasury head mainly due to his global profile and his very persuasive skills as a public orator.
“He was, actually, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal agenda that included promoting Varoufakis's books and experimenting with his game theories using Greece rather than truly advocating its financial survival.
Tsipras wrote that those talks to avoid insolvency were “not just a way to secure a better deal for the country. They were a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
On the line was not only the country's future and those severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
