In a newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches as he reflects on the turbulent era during Greece's debt drama.
A Controversial Choice
In Tsipras's account, he selected the unorthodox academic Yanis Varoufakis as the treasury head primarily due to the latter's worldwide fame and his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal agenda which included advancing Varoufakis's publications and testing out his game theories using the nation rather than truly fighting for the country's economic stability.
Tsipras noted how the negotiations to avoid insolvency became “not just a method of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
On the line was both Greece's future but also the punishing austerity policies demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were put to a public vote, an action which plunged Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
He further claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
