Within his freshly published autobiography, titled Ithaki, the former leader Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, he chose that unorthodox economist Yanis Varoufakis to be his treasury head largely because of the latter's worldwide fame and his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief had his own agenda which involved promoting his books and experimenting with his game theories on Greece instead of truly fighting for its financial survival.
Tsipras wrote how the discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's destiny and the harsh cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, those punitive bailout terms were subjected to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister proposed a contingency plan involving creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
