In a recently unveiled autobiography, named Ithaki, the former leader Tsipras does not hold back while he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as the finance minister largely due to the latter's worldwide fame and Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had his own motives that involved advancing Varoufakis's books and experimenting with his own economic models on the nation instead of genuinely advocating its financial survival.
He noted how those discussions to stave off insolvency were “not just a method to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the single currency area.
On the line lay not only Greece's future but also those severe cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
