Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis to be his treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal agenda that included promoting Varoufakis's books and experimenting with his own economic models using the nation rather than genuinely advocating its economic stability.
He wrote how the discussions to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
On the line lay both the country's destiny and the punishing cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into a further existential crisis.
Although the vote was carried decisively by those against austerity, Tsipras had little option to ignore the result and agree to a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
This account of events has been met with fury and shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
