Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, he chose the maverick economist Yanis Varoufakis as his treasury head largely because of his international reputation along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal agenda that involved advancing Varoufakis's publications and testing out his economic models on Greece instead of genuinely advocating its economic stability.
Tsipras noted how those negotiations to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During tense negotiations, Greece came dangerously close to leaving the eurozone.
On the line was not only Greece's future but also those harsh austerity policies demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that threw the EU into a further existential crisis.
Even though the vote was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome then negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
This account of events has been met with fury along with shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
