In a newly released autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected that maverick economist Yanis Varoufakis as his finance minister largely due to the latter's international reputation along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own agenda that involved promoting Varoufakis's books as well as testing out his game theories on the nation rather than truly advocating its financial survival.
He noted that the discussions to stave off bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's future and those harsh cutbacks required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into further existential crisis.
Although the vote was won decisively by those against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes how his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
He also wrote that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
