Within his recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's account, Tsipras selected the unorthodox academic Yanis Varoufakis to be the treasury head mainly due to his global profile and Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal agenda which included advancing his books and experimenting with his theories on the nation instead of genuinely fighting for its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy became “not only a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
At stake was both Greece's future and those punishing austerity policies required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were subjected to a public vote, a move which plunged the EU into further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself “unfit for a deal that required intricate and sensitive handling.”
Tsipras further claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of events has provoked fury and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
