Within his freshly published autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras appointed the unorthodox economist Yanis Varoufakis as his finance minister largely due to the latter's global profile and his very persuasive skills when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own motives that involved advancing his books as well as experimenting with his economic models on Greece instead of genuinely advocating the country's economic stability.
He noted that those talks to stave off bankruptcy became “not just a method to secure a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake lay both Greece's destiny and those punishing cutbacks demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, a move which plunged Europe into a further existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras had little option to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
He also wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
The account of history has been met with anger and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
