In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras does not hold back as he revisits that chaotic period of Greece's debt drama.
A Controversial Appointment
In Tsipras's account, he appointed the unorthodox economist Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal agenda which included promoting his publications and experimenting with his own game theories using Greece rather than genuinely fighting for its economic stability.
Tsipras explained that those negotiations to stave off bankruptcy became “not only a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only the country's future but also those severe austerity measures demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally had proved himself “unfit for a deal that required complex and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were advocating Grexit.
This account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
