Within his recently unveiled autobiography, named Ithaki, the former premier Tsipras pulls no punches while he revisits the chaotic era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, he chose the unorthodox economist Yanis Varoufakis to be the treasury head mainly because of his global profile and his very persuasive skills when it came to public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had his own motives which involved advancing Varoufakis's publications as well as experimenting with his own theories on Greece instead of truly fighting for the country's financial survival.
He noted how those talks to avoid bankruptcy became “not only a way to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay both Greece's destiny but also those harsh austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome then agree to a rescue deal from creditors which proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
