In a newly released memoir, named Ithaki, the former premier Tsipras pulls no punches while he examines that turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras selected that maverick economist Yanis Varoufakis to be the finance minister largely because of his international reputation along with his “extremely attractive” abilities as a public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal agenda that included promoting Varoufakis's books and testing out his own theories using the nation rather than genuinely advocating its financial survival.
Tsipras noted that the negotiations to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and the punishing austerity measures required in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras had little option to reject its outcome then agree to a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
