In a newly released memoir, titled Ithaki, the former premier Tsipras pulls no punches while he revisits that chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, he appointed that maverick economist Yanis Varoufakis as his treasury head largely because of the latter's global profile and his highly compelling abilities when it came to speaker.
“He was, actually, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal agenda that involved promoting Varoufakis's publications as well as experimenting with his game theories on Greece rather than truly advocating its financial survival.
Tsipras wrote that those discussions to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the eurozone.
On the line lay both the country's destiny but also the severe austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move which plunged the EU into deeper existential crisis.
Although the referendum was carried decisively by voters against austerity, Tsipras had little option to ignore the result and agree to a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating Grexit.
This retelling of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
