Within his freshly published memoir, titled Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head primarily because of the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives that involved promoting Varoufakis's books and testing out his own game theories using Greece rather than genuinely advocating the country's economic stability.
He wrote how those discussions to avoid insolvency were “not just a way to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
At stake lay not only Greece's future and the punishing austerity measures demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that threw the EU into deeper crisis of identity.
Although the vote was won decisively by those against austerity, the prime minister had little option but to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further wrote that his aggressive style made him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
