In a freshly published autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, he chose that maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims how his finance chief had a personal agenda that included advancing Varoufakis's books and experimenting with his theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted how the discussions to prevent bankruptcy were “not only a method of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
At stake lay not only the country's future and those severe austerity policies demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Although the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive handling.”
He further wrote how his aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
