Within his freshly published autobiography, called Ithaki, the former premier Tsipras spares no criticism while he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, he chose that maverick economist Yanis Varoufakis as his finance minister largely due to his global profile along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had his own agenda which included advancing Varoufakis's books and testing out his economic models on the nation rather than genuinely advocating the country's financial survival.
He explained that those negotiations to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came dangerously close to exiting the single currency area.
At stake was not only the country's destiny but also those severe austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, an action which threw the EU into a further existential crisis.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras further claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
