Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis as the treasury head largely due to the latter's global profile along with Varoufakis's highly compelling abilities as a public orator.
“He was, truthfully, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis possessed a personal agenda that involved advancing his publications and experimenting with his own game theories using Greece instead of truly advocating the country's financial survival.
Tsipras wrote how the discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's future and the severe austerity measures demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move which threw Europe into deeper crisis of identity.
Even though the referendum was won decisively by voters against the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
