Within his newly released autobiography, titled Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose the maverick academic Yanis Varoufakis to be the treasury head largely because of his worldwide fame along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, in reality, more of a star rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own agenda that included advancing his books and testing out his own theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras wrote how the negotiations to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny but also those harsh austerity measures required in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw the EU into further existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister had little option to ignore the result and agree to a bailout package with creditors that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader knew that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, the author concludes how his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras further claimed that his aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of events has been met with anger and shock in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
