In a newly released autobiography, titled Ithaki, the ex- leader Tsipras does not hold back as he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister primarily because of his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own motives that involved advancing Varoufakis's books as well as experimenting with his own game theories using Greece instead of truly fighting for the country's economic stability.
Tsipras explained how those discussions to avoid insolvency became “not only a way of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, the country came dangerously close to exiting the eurozone.
At stake was both the country's destiny but also those punishing austerity policies demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive conditions were put to a public vote, an action that threw the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to retirees, the leader knew it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and helped hawks that were advocating Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
