Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he reflects on the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he selected the maverick economist Yanis Varoufakis to be his finance minister largely because of the latter's global profile and Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims how Varoufakis had a personal motives which involved promoting his publications and experimenting with his theories on Greece instead of genuinely fighting for its financial survival.
Tsipras explained that those negotiations to stave off insolvency became “not just a method to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
During tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny but also the punishing austerity policies required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move that plunged the EU into deeper existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of events has provoked fury and shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
