In a freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism as he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, he selected that maverick academic Yanis Varoufakis as the treasury head largely due to the latter's worldwide fame along with his highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal motives which included promoting his publications as well as experimenting with his game theories on the nation instead of truly advocating its economic stability.
Tsipras explained how those discussions to prevent insolvency were “not only a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only the country's future and the severe cutbacks demanded in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, a move that threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
He further wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
