Within his newly released personal account, titled Ithaki, the ex- leader Tsipras spares no criticism while he revisits that turbulent era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the finance minister mainly because of the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to public orator.
“He was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own agenda which included promoting Varoufakis's books as well as testing out his game theories using Greece rather than truly fighting for its financial survival.
Tsipras explained that the discussions to stave off insolvency were “not only a way to secure improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, the country came perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also those severe austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those harsh conditions were put to a public vote, a move that plunged the EU into a further existential crisis.
Even though the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal with creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
He also claimed how his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The account of history has been met with anger along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
