Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed the maverick academic Yanis Varoufakis to be his treasury head mainly due to the latter's global profile along with his very persuasive abilities as a communicator.
“In reality, he was, actually, more of a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives which involved promoting his books and experimenting with his own economic models on the nation instead of truly advocating the country's financial survival.
Tsipras explained how the talks to avoid insolvency were “not just a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake was not only Greece's future and those punishing austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, an action that plunged the EU into a further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
