In a freshly published autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he examines that chaotic era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras selected that unorthodox economist Yanis Varoufakis as the treasury head primarily because of the latter's international reputation and Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal motives which included promoting Varoufakis's books and experimenting with his own game theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras explained how those discussions to avoid insolvency became “not only a method to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense discussions, the country came perilously on the brink of leaving the eurozone.
On the line was both Greece's destiny and those harsh cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into a further existential crisis.
Although the vote was carried decisively by those against austerity, Tsipras had little option to ignore the result then agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
He further claimed how his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
This retelling of history has been met with anger along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
