Within his freshly published autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches as he revisits the turbulent period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's global profile along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda which included promoting Varoufakis's publications and testing out his game theories using the nation rather than genuinely advocating the country's financial survival.
He noted how the negotiations to stave off bankruptcy were “not just a method of achieving improved terms for the country. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake lay both Greece's future but also those punishing austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.
