Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits that turbulent period of Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister mainly due to the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“He was, actually, more like a personality and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that included advancing Varoufakis's books and testing out his game theories using Greece rather than genuinely fighting for the country's financial survival.
He explained that the discussions to stave off insolvency were “not only a way of achieving improved terms for the country. They became a test, an historic chance to prove the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
At stake lay not only the country's destiny and the punishing austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a public vote, an action which plunged the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option to ignore the result then negotiate a bailout package with creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
He further claimed that his confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
This retelling of events has been met with fury and shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
