In a freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the chaotic era of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras chose the maverick academic Yanis Varoufakis as the finance minister primarily due to the latter's international reputation and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief had his own agenda that involved promoting Varoufakis's publications and experimenting with his own game theories on Greece rather than truly advocating its economic stability.
He wrote that the talks to avoid bankruptcy became “not only a method to secure a better deal for the country. They became a test, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Talks
During tense negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay not only Greece's future but also those severe austerity policies required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
