Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the turbulent period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis as the finance minister mainly because of his international reputation and his highly compelling skills as a public orator.
“In reality, he was, actually, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal motives which involved advancing Varoufakis's publications and experimenting with his economic models using the nation instead of truly advocating its financial survival.
Tsipras wrote how the negotiations to prevent insolvency were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was not only Greece's destiny and the harsh austerity measures demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that threw the EU into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to ignore the result then agree to a bailout package from creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was game over and asked him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself “unfit for a deal that required intricate and sensitive handling.”
He further wrote that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and assisted hawks who were advocating Grexit.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
