Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, he chose that maverick academic Yanis Varoufakis to be his treasury head mainly due to his worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his own economic models on the nation rather than genuinely fighting for its economic stability.
He wrote how those talks to avoid bankruptcy were “not just a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of exiting the single currency area.
On the line lay not only Greece's future but also those harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were put to a public vote, a move which threw the EU into a further crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
