In a recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he examines the turbulent era during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis as the treasury head mainly due to the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives that included advancing Varoufakis's books as well as testing out his economic models using Greece instead of truly advocating the country's economic stability.
He explained how those discussions to stave off insolvency became “not only a method to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake was both the country's destiny but also the harsh austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, a move which threw the EU into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras had little option to ignore the result then agree to a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
He further wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
