In a newly released autobiography, named Ithaki, the ex- premier Tsipras does not hold back as he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis to be the finance minister largely because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives which involved promoting his publications as well as testing out his own theories on Greece rather than truly advocating its financial survival.
Tsipras explained how the talks to avoid bankruptcy were “not only a method to secure improved terms for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's destiny but also those severe austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were put to a popular referendum, an action that threw the EU into a further existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of events has been met with anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
