Within his freshly published autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the chaotic era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, he chose the maverick economist Yanis Varoufakis to be his finance minister mainly because of the latter's global profile along with his “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief had a personal agenda which included advancing Varoufakis's publications as well as experimenting with his economic models using the nation instead of truly advocating the country's economic stability.
He wrote how those negotiations to stave off bankruptcy became “not just a method of achieving improved terms for Greece. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny and those harsh cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package with creditors which proved to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed that his aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked anger and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
