Within his newly released autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he examines that turbulent era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he appointed the maverick academic Yanis Varoufakis as his treasury head mainly because of the latter's global profile along with his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis had a personal motives that included promoting Varoufakis's publications as well as experimenting with his own theories on the nation instead of truly fighting for its financial survival.
He explained how those talks to avoid insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
During tense negotiations, the country found itself perilously close to exiting the single currency area.
At stake was not only the country's destiny and those punishing austerity measures required in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move that threw Europe into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a bailout package from foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of history has been met with fury along with shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
