Within his newly released autobiography, called Ithaki, the former leader Tsipras pulls no punches as he revisits that chaotic era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his international reputation along with his “extremely attractive” abilities as a speaker.
“He was, in reality, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief had a personal agenda which involved promoting his books and testing out his own game theories using the nation instead of truly fighting for its economic stability.
He noted that the negotiations to prevent insolvency became “not only a way to secure improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both Greece's destiny and the harsh cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which threw Europe into deeper crisis of identity.
Even though the vote was carried decisively by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also claimed that his confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
This retelling of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
