In a freshly published memoir, named Ithaki, the former prime minister Tsipras does not hold back as he examines that turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he chose that unorthodox economist Yanis Varoufakis as the finance minister mainly because of the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had a personal motives which involved promoting his publications and experimenting with his own game theories using Greece instead of genuinely fighting for its financial survival.
He noted how those discussions to prevent insolvency became “not just a way to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece came perilously close to exiting the single currency area.
On the line lay not only the country's destiny and the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were subjected to a public vote, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
He also wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
