In a freshly published autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches while he revisits that chaotic era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis as his finance minister largely due to his global profile and Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda that included advancing his publications and experimenting with his own game theories on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that those negotiations to prevent insolvency became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
During tense negotiations, Greece found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's future but also those severe austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating conditions were subjected to a public vote, a move that plunged the EU into deeper existential crisis.
Although the referendum was won decisively by voters against austerity, the prime minister was forced to ignore the result and negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, the author asserts that Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
