In a newly released autobiography, named Ithaki, the ex- premier Tsipras spares no criticism while he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose the unorthodox academic Yanis Varoufakis to be the treasury head largely because of his international reputation and his “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal motives which included advancing his publications as well as experimenting with his game theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted that those discussions to avoid bankruptcy were “not just a way of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay not only the country's future and the punishing austerity policies demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, a move that plunged the EU into a deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
He further wrote how his confrontational approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of events has been met with anger and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
