Within his recently unveiled autobiography, titled Ithaki, the former premier Tsipras spares no criticism as he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras chose that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed his own motives that involved advancing Varoufakis's books as well as testing out his theories on the nation rather than truly fighting for the country's economic stability.
Tsipras noted how those negotiations to prevent bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile discussions, the country came perilously close to leaving the eurozone.
On the line lay both Greece's future and the harsh austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the referendum was won decisively by voters against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required complex and delicate management.”
He further wrote how his confrontational approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
