Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis as the treasury head primarily because of his international reputation and Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal motives that involved promoting Varoufakis's books and testing out his economic models on Greece rather than genuinely fighting for its financial survival.
He explained how the discussions to prevent insolvency became “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was both the country's destiny and the severe cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package with creditors which proved to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with anger and shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
