In a freshly published autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he reflects on the chaotic period during Greece's financial crisis.
An Unconventional 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 and his highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own agenda which included advancing Varoufakis's publications and experimenting with his own economic models using the nation rather than genuinely advocating its financial survival.
Tsipras noted how the discussions to prevent bankruptcy became “not just a way to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his theories.”
High-Stakes Talks
During volatile discussions, the country came dangerously on the brink of leaving the eurozone.
On the line was not only the country's future and those punishing austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that threw the EU into a further crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result and agree to a bailout package with creditors that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and distributing vouchers to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
