Within his freshly published memoir, titled Ithaki, the ex- leader Tsipras pulls no punches as he examines that turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, he selected the unorthodox economist Yanis Varoufakis to be his treasury head mainly because of his global profile along with his “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal agenda that involved promoting his books as well as experimenting with his own theories on the nation rather than truly advocating the country's economic stability.
Tsipras explained how those talks to avoid insolvency were “not just a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and those severe austerity policies required in return for bailout funds from foreign lenders.
Failed Options
Attempts to find funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were subjected to a public vote, a move that threw the EU into a further crisis of identity.
Although the referendum was won decisively by those against austerity, the prime minister had little option but to ignore the result and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author concludes that Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive management.”
He further claimed that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
