Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that turbulent period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's recollections, he selected the unorthodox economist Yanis Varoufakis to be his treasury head largely due to his global profile along with his highly compelling abilities when it came to speaker.
“He was, actually, more of a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis had his own agenda which involved advancing his books as well as experimenting with his own game theories on the nation instead of truly fighting for the country's financial survival.
He wrote that the discussions to stave off bankruptcy became “not just a method to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
During tense discussions, the country came perilously on the brink of leaving the single currency area.
On the line lay both Greece's future but also those severe cutbacks required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move which plunged Europe into a deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras had little option to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He further claimed how his aggressive approach made him more and more alone among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This account of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
