Within his newly released autobiography, called Ithaki, the former prime minister Tsipras spares no criticism as he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal agenda that involved promoting his publications as well as testing out his game theories using the nation rather than truly advocating the country's financial survival.
Tsipras wrote that the negotiations to avoid insolvency became “not only a way of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake lay both Greece's future and those severe cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by voters against the cuts, the prime minister had little option to ignore the result then agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, the leader knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
