In a freshly published autobiography, called Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister largely because of the latter's global profile and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader claims that his finance chief possessed his own motives which included advancing his books as well as experimenting with his own theories using the nation instead of truly fighting for its economic stability.
Tsipras noted that the discussions to prevent insolvency became “not just a method of achieving improved terms for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously close to leaving the single currency area.
At stake was not only the country's future and the harsh austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh conditions were put to a popular referendum, an action that threw Europe into further crisis of identity.
Although the vote was won decisively by those who opposed austerity, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hawks that were advocating Grexit.
This retelling of events has provoked anger and shock in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
