In a recently unveiled autobiography, called Ithaki, the ex- premier Tsipras does not hold back while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, Tsipras selected that maverick economist Yanis Varoufakis as the finance minister primarily because of his global profile along with Varoufakis's highly compelling skills as a speaker.
“He was, in reality, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal motives which included advancing Varoufakis's publications and experimenting with his game theories using Greece rather than truly fighting for its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and the punishing austerity measures demanded in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were put to a public vote, a move that plunged Europe into a further crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes how his former ally had proved himself “unsuitable for a deal that required complex and sensitive management.”
He also claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of history has provoked fury along with shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
