In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, he appointed that maverick economist Yanis Varoufakis as his finance minister primarily due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own agenda which involved promoting his publications and experimenting with his game theories on Greece rather than genuinely advocating the country's economic stability.
He noted how the discussions to avoid insolvency were “not only a way of achieving a better deal for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, the country came perilously on the brink of leaving the eurozone.
On the line was both Greece's destiny and the punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the referendum was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of events has been met with fury and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.