In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's version, he selected that maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's global profile and his highly compelling abilities as a communicator.
“He was, in reality, more like a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests how Varoufakis had his own agenda that included promoting his books and experimenting with his economic models on the nation rather than truly advocating its economic stability.
He noted how those negotiations to avoid insolvency were “not just a way of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line lay both Greece's destiny but also the punishing cutbacks required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action which threw the EU into further existential crisis.
Although the vote was won decisively by those against austerity, the prime minister was forced but to ignore the result then negotiate a bailout package with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, the author asserts that his former ally had proved himself “unfit for a deal demanding intricate and sensitive handling.”
He further claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
