In a recently unveiled personal account, titled Ithaki, the former leader Tsipras does not hold back as he revisits the chaotic era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's recollections, Tsipras selected the unorthodox economist Yanis Varoufakis as his finance minister largely due to the latter's global profile along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis had his own agenda which involved promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly advocating the country's economic stability.
Tsipras noted that the talks to prevent insolvency became “not just a method to secure a better deal for Greece. They were a test, an historic chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, Greece came perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how his former ally had proved himself “unfit for a deal demanding intricate and delicate handling.”
He also claimed that Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
