In a newly released autobiography, called Ithaki, the former premier Tsipras does not hold back as he examines the chaotic era of Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he selected the unorthodox academic Yanis Varoufakis as the finance minister mainly because of his worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own agenda that involved promoting his books as well as experimenting with his game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras explained how the discussions to stave off insolvency were “not just a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
On the line was not only Greece's destiny and those harsh austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the vote was carried decisively by voters against austerity, the prime minister was forced to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed how his confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
