Within his newly released autobiography, named Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, he appointed that unorthodox academic Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis had a personal motives which involved promoting Varoufakis's books and experimenting with his theories on Greece rather than genuinely fighting for its economic stability.
Tsipras noted that the talks to avoid bankruptcy were “not just a method to secure improved terms for Greece. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line was both Greece's destiny and those harsh austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action which plunged the EU into a deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, Tsipras was forced to reject its outcome then agree to a rescue deal from creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also wrote how his aggressive style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
