In a newly released autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, he selected the unorthodox economist Yanis Varoufakis as the treasury head mainly because of the latter's global profile along with his highly compelling abilities when it came to communicator.
“He was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that Varoufakis possessed his own motives which included promoting his publications and testing out his theories using the nation instead of genuinely advocating the country's economic stability.
He explained how those negotiations to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
On the line lay both the country's destiny and the harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
