Within his newly released autobiography, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed that unorthodox academic Yanis Varoufakis to be his finance minister mainly because of the latter's international reputation and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, in reality, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives which involved advancing Varoufakis's books and experimenting with his own economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted how those negotiations to stave off insolvency were “not just a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece came perilously close to leaving the single currency area.
On the line lay both Greece's destiny and those punishing austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He also claimed how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
The account of events has been met with fury and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
