Within his recently unveiled autobiography, titled Ithaki, the former premier Tsipras spares no criticism while he revisits that turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as his finance minister mainly because of his worldwide fame and Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis had a personal agenda which involved promoting Varoufakis's books and testing out his own economic models using the nation instead of genuinely fighting for its economic stability.
Tsipras noted how those discussions to stave off insolvency were “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line lay both the country's destiny but also the harsh cutbacks demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were put to a public vote, a move which threw the EU into deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The retelling of history has provoked fury and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
