Within his newly released autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches as he reflects on the chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, he chose that unorthodox academic Yanis Varoufakis as the finance minister primarily because of his worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had his own agenda which involved advancing Varoufakis's publications as well as experimenting with his game theories using Greece instead of truly advocating the country's economic stability.
He explained how the negotiations to prevent bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny but also the harsh cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action which plunged the EU into a deeper crisis of identity.
Although the vote was won decisively by voters who opposed austerity, the prime minister had little option to reject its outcome then agree to a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate management.”
Tsipras also claimed how his confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
