Within his freshly published autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed the unorthodox academic Yanis Varoufakis to be his finance minister primarily because of the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal agenda which included advancing his publications and testing out his own economic models on the nation rather than genuinely advocating the country's economic stability.
He wrote that those negotiations to avoid bankruptcy were “not only a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously on the brink of leaving the eurozone.
At stake was not only the country's future and those punishing cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a public vote, a move which plunged the EU into a further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome and agree to a bailout package from foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed how his confrontational style left him more and more alone among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
