Within his freshly published autobiography, named Ithaki, the ex- leader Tsipras spares no criticism while he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis to be his finance minister mainly due to his international reputation along with Varoufakis's very persuasive skills as a public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief had a personal agenda which involved advancing Varoufakis's books and testing out his theories using Greece rather than truly advocating its economic stability.
He wrote how the discussions to avoid insolvency were “not only a way to secure a better deal for the country. They became a test, an historic chance to prove the validity of his theories.”
Critical Negotiations
During volatile discussions, the country came perilously close to leaving the single currency area.
At stake lay both the country's future and the harsh cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the harsh conditions were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face 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 the minister outlined a backup strategy that included establishing a parallel currency and issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He further claimed how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This account of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
