Within his freshly published autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches as he examines the chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head mainly due to the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had a personal motives which involved promoting his publications as well as testing out his own theories on the nation instead of truly fighting for its financial survival.
Tsipras wrote that the negotiations to avoid insolvency became “not just a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country came perilously close to exiting the eurozone.
On the line was both Greece's destiny and those punishing austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, an action which threw the EU into further existential crisis.
Even though the vote was carried decisively by those against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
He further claimed that his confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The account of events has been met with fury along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
