Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back as he reflects on the turbulent era during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras appointed that maverick academic Yanis Varoufakis as the treasury head largely because of his global profile and his “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had his own agenda which included advancing Varoufakis's publications and experimenting with his own economic models using Greece instead of genuinely fighting for the country's economic stability.
Tsipras wrote that those discussions to stave off bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake was not only the country's future but also the severe austerity measures required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating conditions were put to a public vote, a move that threw the EU into further existential crisis.
Although the vote was won decisively by voters who opposed the cuts, Tsipras had little option to ignore the result and negotiate a bailout package with creditors that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He further wrote that his confrontational approach made him more and more alone with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
