In a freshly published autobiography, named Ithaki, the former premier Tsipras spares no criticism while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras chose the maverick academic Yanis Varoufakis to be his finance minister largely due to the latter's global profile and Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own motives which involved promoting his books as well as testing out his own game theories on Greece rather than genuinely fighting for its financial survival.
Tsipras wrote how the talks to avoid insolvency became “not only a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
On the line was not only the country's future and those harsh cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the punitive conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive handling.”
He further wrote that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
