Within his newly released autobiography, named Ithaki, the former prime minister Tsipras pulls no punches as he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed that maverick academic Yanis Varoufakis as the finance minister primarily because of the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis possessed his own agenda which involved advancing Varoufakis's books and experimenting with his own theories on the nation instead of truly advocating the country's economic stability.
He wrote that those discussions to prevent bankruptcy were “not only a way of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay not only the country's future but also the punishing austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
The account of events has been met with anger and shock in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
