In a newly released memoir, called Ithaki, the former prime minister Tsipras does not hold back while he examines the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he chose that unorthodox academic Varoufakis to be the treasury head largely due to his international reputation and his highly compelling skills as a speaker.
“In reality, he was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda which involved promoting Varoufakis's books as well as experimenting with his game theories using the nation instead of truly fighting for the country's economic stability.
He noted that the talks to avoid insolvency became “not just a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to exiting the single currency area.
At stake lay not only the country's future but also the punishing cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to ignore the result then agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
