Within his newly released autobiography, titled Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he appointed that unorthodox academic Yanis Varoufakis to be the finance minister mainly due to the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own agenda which included advancing Varoufakis's publications and experimenting with his theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras explained how those talks to avoid bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only the country's future but also those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure funds from other sources, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced to ignore the result then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate handling.”
He further wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
