In a recently unveiled autobiography, called Ithaki, the ex- leader Tsipras pulls no punches while he examines the turbulent period during Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, he appointed the maverick economist Yanis Varoufakis as his finance minister largely due to his international reputation along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed a personal agenda that included promoting his books as well as experimenting with his own theories on the nation instead of genuinely fighting for its financial survival.
He explained how the talks to prevent insolvency became “not only a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future but also the severe austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were put to a public vote, a move which plunged Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also wrote how his aggressive style left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of events has been met with fury along with shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
