Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, he selected the maverick economist Yanis Varoufakis to be his finance minister largely due to his international reputation along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda that involved promoting his publications and testing out his game theories using Greece rather than genuinely advocating its economic stability.
He wrote that those talks to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came perilously on the brink of leaving the eurozone.
On the line was both Greece's destiny but also those punishing austerity policies demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were put to a public vote, an action which threw Europe into further existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He further claimed how his aggressive approach made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
