Within his newly released autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed the maverick academic Yanis Varoufakis to be his treasury head mainly due to the latter's global profile along with Varoufakis's very persuasive skills when it came to public orator.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had his own motives that involved promoting his books and testing out his own economic models using Greece instead of truly advocating the country's financial survival.
Tsipras noted that the negotiations to stave off bankruptcy were “not just a way of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came perilously close to exiting the eurozone.
At stake lay both the country's future and the severe cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister was forced to reject its outcome and agree to a bailout package with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He also wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
