Within his freshly published autobiography, called Ithaki, the former prime minister Tsipras pulls no punches while he revisits the chaotic era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, he appointed that maverick academic Yanis Varoufakis to be his finance minister primarily due to his global profile and his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a star rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal agenda which included promoting his books as well as testing out his theories on Greece rather than truly advocating its financial survival.
Tsipras wrote that the talks to prevent bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was both Greece's destiny but also those punishing cutbacks required in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Although the referendum was won decisively by those against austerity, the prime minister had little option to ignore the result and agree to a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
This retelling of history has been met with fury and shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
