In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, he chose the maverick economist Yanis Varoufakis as his finance minister largely due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how Varoufakis had a personal agenda that involved promoting Varoufakis's publications as well as testing out his own economic models on Greece rather than genuinely advocating its financial survival.
He wrote how the negotiations to avoid insolvency were “not just a way of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and those harsh austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were put to a public vote, an action which plunged the EU into further existential crisis.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
He further claimed how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
