In a newly released autobiography, called Ithaki, the ex- leader Tsipras spares no criticism as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras chose that unorthodox academic Yanis Varoufakis as the treasury head largely because of his worldwide fame along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more of a star and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed his own agenda which involved advancing Varoufakis's publications and experimenting with his theories using the nation instead of genuinely fighting for its economic stability.
He explained how the negotiations to prevent bankruptcy became “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny but also the harsh cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister had little option to ignore the result then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras also claimed how his confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
