In a freshly published autobiography, called Ithaki, the former premier Tsipras spares no criticism while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister primarily due to his international reputation along with his very persuasive abilities when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had a personal motives that involved advancing Varoufakis's books and experimenting with his game theories on the nation instead of genuinely advocating its economic stability.
Tsipras noted that the talks to avoid bankruptcy were “not only a method of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country came perilously close to leaving the eurozone.
At stake was not only Greece's destiny and the punishing austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
He also wrote how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked anger and shock in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
