Within his freshly published autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches while he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal motives which involved advancing his publications and experimenting with his own economic models using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted that those negotiations to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country came dangerously close to leaving the eurozone.
On the line was both the country's destiny but also those harsh austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating conditions were put to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome then agree to a bailout package from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
