In a newly released memoir, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on the turbulent era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, he selected the maverick economist Yanis Varoufakis as his treasury head mainly because of the latter's international reputation along with his very persuasive abilities as a public orator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own agenda that involved advancing his publications as well as experimenting with his own game theories using Greece rather than truly advocating the country's financial survival.
He explained that the discussions to avoid insolvency were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake lay both Greece's destiny but also those harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras had little option to ignore the result then agree to a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
