In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with his “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed a personal motives that included advancing Varoufakis's publications and experimenting with his own economic models on Greece instead of truly advocating its financial survival.
He noted how those negotiations to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of his economic theories.”
Critical Negotiations
Amid volatile discussions, Greece found itself dangerously close to exiting the eurozone.
At stake lay not only Greece's future but also the harsh cutbacks demanded in return for financial aid from international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger and shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
