Within his recently unveiled autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he examines the chaotic era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, he chose the unorthodox academic Yanis Varoufakis to be the finance minister largely because of his international reputation along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed his own motives which included advancing Varoufakis's books as well as testing out his game theories using the nation instead of truly fighting for the country's economic stability.
Tsipras explained that those talks to avoid bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously close to exiting the single currency area.
At stake was both Greece's destiny but also the severe cutbacks demanded in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action which plunged the EU into a further existential crisis.
Even though the referendum was won resoundingly by voters against austerity, the prime minister had little option but to ignore the result then negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes how his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while helped hawks that were advocating Grexit.
The account of events has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
