In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he chose the maverick academic Yanis Varoufakis as the treasury head mainly because of his global profile along with his “extremely attractive” abilities as a speaker.
“He was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed a personal agenda that involved advancing his publications as well as experimenting with his theories using the nation rather than truly advocating its financial survival.
He explained how those negotiations to avoid bankruptcy became “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Negotiations
During tense discussions, Greece came perilously close to exiting the single currency area.
At stake lay both the country's destiny but also those harsh cutbacks required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result then agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Criticism
In the book, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
This account of events has provoked anger along with shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
