Within his freshly published autobiography, titled Ithaki, the former premier Tsipras pulls no punches while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, he selected that unorthodox academic Yanis Varoufakis as the treasury head primarily due to the latter's global profile and his highly compelling skills when it came to speaker.
“He was, truthfully, more of a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal agenda which involved promoting his books and testing out his own economic models on the nation rather than genuinely advocating the country's financial survival.
He wrote how those discussions to avoid bankruptcy became “not only a way to secure improved terms for the country. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
During tense negotiations, the country came dangerously close to exiting the eurozone.
On the line was not only Greece's future but also the severe austerity policies demanded in exchange for financial aid from international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
He also claimed that his confrontational style made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
