Within his recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras spares no criticism while he revisits that chaotic era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis to be the finance minister primarily due to his global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges that his finance chief possessed a personal agenda that included promoting his publications as well as experimenting with his game theories on the nation instead of genuinely advocating the country's financial survival.
He explained that those negotiations to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously close to exiting the single currency area.
At stake lay not only the country's destiny but also those punishing austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate handling.”
He further claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
