In a recently unveiled autobiography, titled Ithaki, the former premier Tsipras does not hold back as he reflects on that chaotic era of Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis to be his finance minister primarily due to the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more like a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed a personal agenda that involved advancing his publications as well as experimenting with his own game theories on the nation instead of genuinely advocating its economic stability.
He explained how the talks to prevent insolvency were “not only a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line lay both Greece's future and the harsh austerity measures demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a public vote, a move that threw Europe into further existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to retirees, the leader knew it was game over questioning him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with fury and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
