In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras does not hold back while he revisits the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he selected that maverick academic Yanis Varoufakis to be the treasury head primarily because of the latter's international reputation along with his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his theories using Greece instead of genuinely advocating its financial survival.
He explained that those discussions to avoid bankruptcy became “not just a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
At stake lay both Greece's destiny but also those punishing austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
