In a newly released memoir, called Ithaki, the ex- leader Tsipras pulls no punches while he revisits that chaotic era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as the treasury head mainly due to the latter's international reputation along with his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that included promoting Varoufakis's books as well as testing out his game theories using Greece rather than truly fighting for the country's economic stability.
Tsipras noted how those negotiations to prevent insolvency were “not only a way to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Talks
Amid tense discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny and those punishing cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were put to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
