In a recently unveiled autobiography, titled Ithaki, the former premier Tsipras pulls no punches as he revisits the chaotic era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis to be the finance minister primarily because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own agenda which included promoting Varoufakis's publications and testing out his own economic models using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted how those talks to avoid bankruptcy became “not just a method to secure improved terms for the country. They became an experiment, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake was not only Greece's future but also those severe austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras further claimed how his confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
