In a freshly published memoir, titled Ithaki, the former premier Tsipras does not hold back as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis to be his treasury head mainly because of his global profile along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda that involved advancing Varoufakis's books and experimenting with his own game theories using the nation rather than genuinely advocating its financial survival.
Tsipras noted how those negotiations to avoid bankruptcy became “not just a way to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
During tense negotiations, the country found itself perilously on the brink of leaving the eurozone.
On the line was both the country's destiny but also the punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a popular referendum, a move which plunged Europe into further existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and distributing coupons to pensioners, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
