Within his freshly published autobiography, named Ithaki, the former premier Tsipras does not hold back while he revisits the chaotic era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his international reputation along with his very persuasive skills as a communicator.
“He was, in reality, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had a personal motives which involved advancing Varoufakis's publications as well as experimenting with his theories on the nation instead of genuinely fighting for its economic stability.
He explained that those negotiations to avoid insolvency were “not just a way of achieving a better deal for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both Greece's future but also those harsh austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the vote was carried decisively by those against austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He further wrote that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
