In a recently unveiled autobiography, named Ithaki, the former premier Tsipras pulls no punches while he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis to be his finance minister mainly because of the latter's international reputation and his highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own agenda that included promoting his books and testing out his own theories on the nation rather than truly fighting for its financial survival.
Tsipras wrote how the discussions to avoid insolvency became “not only a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously close to exiting the eurozone.
On the line was not only Greece's destiny but also the harsh austerity measures required in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action that threw Europe into a further existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over and asked him: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
