Within his recently unveiled memoir, named Ithaki, the ex- leader Tsipras pulls no punches as he reflects on that turbulent era of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, he appointed that maverick economist Yanis Varoufakis to be the treasury head primarily because of his international reputation along with his very persuasive skills when it came to public orator.
“He was, in reality, more like a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own motives which included promoting Varoufakis's books and experimenting with his game theories on Greece rather than genuinely fighting for its financial survival.
He explained that those discussions to avoid bankruptcy became “not only a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and the harsh austerity policies required in exchange for financial aid from international creditors.
Failed Options
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, an action which threw the EU into a further crisis of identity.
Although the vote was won resoundingly by voters against austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
This account of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
