Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister mainly due to his international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more like a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his own economic models on Greece rather than truly fighting for its financial survival.
Tsipras noted how those negotiations to stave off insolvency became “not just a method of achieving a better deal for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also the severe cutbacks required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of history has been met with anger and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
