Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose the unorthodox academic Varoufakis as the finance minister largely because of his international reputation and his highly compelling abilities when it came to speaker.
“He was, actually, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief had a personal motives that involved advancing his publications as well as testing out his own economic models using the nation instead of truly advocating the country's economic stability.
Tsipras noted that those talks to avoid insolvency were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously close to exiting the eurozone.
On the line lay not only Greece's future but also those punishing austerity policies demanded in return for financial aid from international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the vote was won resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal demanding complex and sensitive management.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
