In a newly released autobiography, called Ithaki, the former leader Tsipras does not hold back as he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head largely because of his worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“He was, in reality, more like a celebrity and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda which involved advancing his books and experimenting with his theories using the nation rather than genuinely advocating the country's financial survival.
He wrote that those discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During volatile negotiations, the country came perilously close to leaving the eurozone.
At stake lay both Greece's destiny but also those severe cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced to ignore the result and agree to a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive management.”
He further wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
