Within his recently unveiled autobiography, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras appointed that maverick economist Yanis Varoufakis to be the treasury head largely because of his global profile and Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges how his finance chief possessed his own agenda which involved advancing his books and testing out his theories on Greece instead of truly fighting for the country's financial survival.
He noted how those negotiations to avoid bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the single currency area.
At stake lay both the country's destiny and the punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
The account of events has been met with anger and shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
