Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed that maverick academic Yanis Varoufakis as his treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills as a communicator.
“He was, in reality, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed his own agenda that involved advancing his publications as well as testing out his own economic models on Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote how the negotiations to avoid bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Negotiations
During tense discussions, Greece found itself perilously close to exiting the single currency area.
At stake was both the country's future and the harsh austerity policies demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were put to a public vote, an action that plunged the EU into a further existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
