Within his recently unveiled autobiography, called Ithaki, the former prime minister Tsipras does not hold back as he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, he selected that unorthodox academic Yanis Varoufakis as the finance minister largely due to his worldwide fame and his very persuasive abilities as a speaker.
“He was, in reality, more of a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis had a personal motives that involved advancing Varoufakis's publications and testing out his own theories on Greece rather than genuinely advocating the country's financial survival.
Tsipras noted how those negotiations to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only Greece's future but also those severe cutbacks required in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move that threw the EU into further crisis of identity.
Although the vote was carried decisively by those against austerity, the prime minister had little option to ignore the result then agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally had proved himself “unfit for an agreement that required intricate and sensitive management.”
He further claimed how his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
