Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches while he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his finance minister primarily due to the latter's global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda which included advancing Varoufakis's publications and experimenting with his own game theories on Greece instead of truly advocating its financial survival.
He wrote that those talks to prevent insolvency became “not just a way to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
Amid tense negotiations, the country came perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the harsh austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a public vote, an action that threw Europe into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
