In a recently unveiled autobiography, named Ithaki, the former prime minister Tsipras does not hold back as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis as the treasury head mainly due to his global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis possessed his own agenda that involved advancing his publications as well as testing out his own economic models on the nation instead of truly advocating the country's economic stability.
He wrote that those talks to avoid insolvency were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay both the country's future but also those severe austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were put to a public vote, an action which plunged Europe into further existential crisis.
Even though the referendum was won resoundingly by voters against austerity, Tsipras was forced to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He also wrote that his aggressive approach made him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
