Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches as he reflects on that chaotic period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected that maverick academic Yanis Varoufakis to be the finance minister largely because of his international reputation along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal motives that included promoting his books and experimenting with his own theories using Greece instead of truly advocating the country's economic stability.
Tsipras wrote that those negotiations to stave off insolvency were “not only a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only Greece's future and those harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into further crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement that required complex and delicate management.”
Tsipras also claimed that his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
