Within his recently unveiled autobiography, called Ithaki, the former prime minister Tsipras pulls no punches as he examines the chaotic era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis to be the finance minister mainly because of his international reputation along with his “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief had his own agenda which included promoting his publications as well as testing out his economic models using the nation rather than truly fighting for its financial survival.
Tsipras explained that those discussions to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was not only Greece's destiny and those harsh cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action that plunged the EU into further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
He further wrote that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of events has been met with fury along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
