Within his recently unveiled autobiography, titled Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, Tsipras chose that maverick economist Yanis Varoufakis to be his treasury head mainly because of his worldwide fame and his very persuasive skills when it came to public orator.
“He was, actually, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis possessed his own motives that included promoting Varoufakis's books as well as experimenting with his own theories on Greece rather than genuinely fighting for the country's financial survival.
Tsipras wrote how those discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was both Greece's destiny and those punishing austerity policies demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into deeper existential crisis.
Although the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes how his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has provoked anger and shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
