Within his newly released personal account, called Ithaki, the ex- premier Tsipras does not hold back while he examines the chaotic era during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, Tsipras selected the maverick academic Varoufakis to be the finance minister largely because of his global profile along with his highly compelling skills as a speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had a personal motives that included promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly fighting for its financial survival.
He explained that those negotiations to prevent insolvency were “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's destiny and those punishing cutbacks required in return for financial aid from foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that plunged Europe into a further existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive management.”
He also claimed that his confrontational style made him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of history has provoked fury along with shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
