Within his newly released autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he examines that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, he appointed the unorthodox economist Yanis Varoufakis as his finance minister largely because of his worldwide fame along with his very persuasive abilities when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis had a personal motives which included promoting Varoufakis's publications as well as testing out his economic models using the nation rather than truly advocating the country's economic stability.
Tsipras noted that those talks to stave off bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid volatile discussions, the country came perilously close to leaving the single currency area.
On the line lay not only Greece's destiny but also those severe austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that threw Europe into a deeper existential crisis.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for Grexit.
The account of events has provoked fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
