Within his recently unveiled autobiography, called Ithaki, the former premier Tsipras does not hold back as he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's account, Tsipras chose the unorthodox academic Yanis Varoufakis as his finance minister largely because of the latter's global profile along with his highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed a personal motives which included promoting his publications as well as testing out his own theories using Greece rather than genuinely fighting for its financial survival.
Tsipras wrote how those discussions to stave off insolvency became “not only a way to secure improved terms for Greece. They were a test, an historic chance to prove the truth of his theories.”
Critical Negotiations
During tense discussions, the country came perilously close to exiting the eurozone.
On the line was not only the country's future but also those harsh austerity policies required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was carried 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 tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding intricate and sensitive management.”
He also claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
