Within his freshly published autobiography, named Ithaki, the ex- premier Tsipras does not hold back while he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister primarily due to his worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief had his own motives which included advancing his publications as well as testing out his own economic models using Greece rather than truly fighting for its financial survival.
Tsipras explained how those negotiations to prevent insolvency were “not just a way of achieving improved terms for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was not only the country's destiny and the severe cutbacks demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move which threw the EU into further crisis of identity.
Even though the vote was won decisively by those against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras concludes how his former ally had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He further wrote that his aggressive style made him more and more alone among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with fury and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
