In a recently unveiled autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he examines that chaotic period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, he appointed that maverick economist Yanis Varoufakis as the finance minister largely because of the latter's worldwide fame and his very persuasive abilities as a speaker.
“He was, truthfully, more of a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief had his own motives that included promoting his books and testing out his own economic models on the nation instead of genuinely advocating its economic stability.
He wrote how the negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country came dangerously close to exiting the single currency area.
On the line lay not only Greece's destiny but also the punishing cutbacks demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that plunged the EU into deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a rescue deal with creditors which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further claimed how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
