Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras appointed that maverick economist Yanis Varoufakis to be his finance minister largely due to his international reputation and Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, actually, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief possessed his own motives that included advancing his publications as well as experimenting with his own theories using the nation instead of genuinely fighting for the country's economic stability.
Tsipras explained that the talks to avoid insolvency were “not just a method to secure a better deal for Greece. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously close to leaving the single currency area.
At stake was both Greece's future and those harsh austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those harsh conditions were put to a popular referendum, a move which threw the EU into deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result then agree to a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras further claimed that his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of history has provoked fury and shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
