Within his freshly published autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he revisits the turbulent era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, he chose that maverick economist Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal agenda which included promoting his publications as well as testing out his own game theories using the nation instead of truly advocating the country's financial survival.
He noted how those negotiations to stave off insolvency were “not only a method to secure a better deal for Greece. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself perilously on the brink of exiting the single currency area.
On the line lay not only the country's destiny and those severe cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result then agree to a bailout package with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras also wrote that his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
The account of history has provoked anger along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
