In a newly released autobiography, titled Ithaki, the former premier Tsipras spares no criticism while he revisits that turbulent period during Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, he appointed that unorthodox academic Yanis Varoufakis as his treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling skills as a communicator.
“He was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own motives that involved promoting Varoufakis's publications and testing out his own game theories using Greece instead of genuinely advocating the country's economic stability.
Tsipras noted how those discussions to stave off bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the severe cutbacks required in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action which threw Europe into deeper crisis of identity.
Although the vote was won decisively by voters against the cuts, the prime minister had little option to ignore the result then agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
He also claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
This account of events has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
