Within his freshly published autobiography, named Ithaki, the former premier Tsipras does not hold back as he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected that maverick economist Yanis Varoufakis as his treasury head primarily due to his global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed a personal agenda that included promoting his books as well as experimenting with his own game theories on Greece rather than genuinely advocating its economic stability.
He noted how the talks to stave off bankruptcy were “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, the country came dangerously on the brink of leaving the eurozone.
On the line was not only the country's destiny but also those harsh austerity policies demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by voters against austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote that his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
