In a recently unveiled memoir, named Ithaki, the former premier Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as the finance minister primarily because of the latter's international reputation and Varoufakis's highly compelling skills as a communicator.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed his own agenda which included advancing his books as well as testing out his own game theories using Greece instead of genuinely advocating the country's economic stability.
He explained how the talks to prevent bankruptcy became “not just a way to secure a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay not only the country's destiny and the harsh cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, the excoriating conditions were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and distributing coupons to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This retelling of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
