In a recently unveiled memoir, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with his highly compelling skills when it came to speaker.
“He was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed his own agenda which included promoting Varoufakis's publications as well as experimenting with his theories on Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted how those discussions to stave off bankruptcy became “not only a method to secure a better deal for Greece. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line lay not only the country's destiny but also those severe austerity measures demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged the EU into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome and agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for a deal that required complex and delicate handling.”
He further wrote that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
