Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he examines that turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis as the finance minister primarily due to his global profile and Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal motives that involved promoting his publications and testing out his theories on the nation instead of genuinely fighting for its economic stability.
He explained how those negotiations to avoid insolvency were “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only the country's destiny and the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action which plunged the EU into a further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
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 attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate management.”
He also wrote that Varoufakis's confrontational approach left 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 anger along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
