Within his freshly published autobiography, named Ithaki, the former leader Tsipras spares no criticism while he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he selected that unorthodox academic Yanis Varoufakis as his finance minister largely due to the latter's international reputation along with his very persuasive abilities as a public orator.
“He was, actually, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal agenda that included promoting his publications as well as experimenting with his own theories on Greece rather than genuinely advocating its financial survival.
He wrote that those negotiations to avoid bankruptcy became “not just a method to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's destiny and the punishing cutbacks demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were subjected to a public vote, an action which plunged Europe into a further crisis of identity.
Even though the vote was won resoundingly by voters against austerity, the prime minister was forced to ignore the result then negotiate a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for a deal demanding intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked fury and shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
