Within his freshly published autobiography, named Ithaki, the former prime minister Tsipras pulls no punches as he reflects on that turbulent period of Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, he selected that maverick academic Yanis Varoufakis to be the treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a star and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal agenda which included advancing his publications and experimenting with his game theories using Greece instead of genuinely advocating the country's financial survival.
He noted how the discussions to stave off bankruptcy became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
During tense negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake was not only the country's destiny and those punishing austerity policies demanded in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action which plunged the EU into deeper existential crisis.
Even though the vote was carried decisively by those who opposed austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also claimed that his confrontational style made him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for Grexit.
This account of events has provoked anger and shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
