In a recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he selected that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more of a star and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had his own agenda that included promoting Varoufakis's publications and experimenting with his theories using the nation rather than truly fighting for the country's financial survival.
Tsipras noted how the discussions to stave off bankruptcy became “not just a way to secure improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously close to exiting the single currency area.
At stake was both Greece's destiny and those harsh cutbacks required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a public vote, a move that threw Europe into deeper existential crisis.
Although the vote was won decisively by voters against the cuts, Tsipras was forced to ignore the result then agree to a rescue deal from creditors that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He also claimed that his aggressive style made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
