Within his newly released autobiography, titled Ithaki, the ex- premier Tsipras does not hold back as he revisits that turbulent period of Greece's debt drama.
A Controversial Choice
As per Tsipras's version, he appointed that unorthodox economist Yanis Varoufakis as the treasury head largely due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed a personal agenda which involved promoting his books and experimenting with his economic models on Greece instead of genuinely fighting for the country's financial survival.
Tsipras explained that the discussions to stave off insolvency were “not just a method of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future but also those severe austerity policies demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, a move that plunged Europe into a further crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras had little option but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The retelling of history has provoked anger and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
