Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he examines that turbulent period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he selected the unorthodox economist Yanis Varoufakis to be the finance minister largely due to the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief possessed a personal motives that involved promoting his books and experimenting with his own theories on Greece rather than truly advocating its economic stability.
Tsipras explained that the negotiations to stave off insolvency were “not only a way of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During rollercoaster discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake lay both Greece's future but also those punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those harsh conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unfit for a deal demanding complex and delicate management.”
He also wrote that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
