In a newly released autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head largely due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief had a personal agenda which included promoting Varoufakis's publications as well as testing out his own economic models on the nation instead of genuinely fighting for its economic stability.
Tsipras noted that the talks to prevent insolvency were “not only a way to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay both the country's future and those punishing cutbacks demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move which threw the EU into deeper existential crisis.
Although the referendum was carried decisively by those against the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with creditors that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a secondary currency and issuing vouchers to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate handling.”
He also claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
