In a freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the chaotic era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, Tsipras appointed that unorthodox economist Yanis Varoufakis as the treasury head primarily because of his worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda that involved promoting his publications as well as experimenting with his own economic models on Greece rather than genuinely advocating its economic stability.
Tsipras explained that those negotiations to prevent insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country found itself perilously close to leaving the eurozone.
At stake was both the country's future but also those punishing cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required complex and sensitive management.”
He also claimed how his aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of history has been met with fury and shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
