In a newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches while he revisits that turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected the maverick academic Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with his highly compelling skills when it came to public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had his own motives that included advancing Varoufakis's publications as well as experimenting with his own theories using the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained that those talks to prevent bankruptcy were “not only a method to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
At stake was both Greece's destiny and the harsh austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move that threw the EU into further crisis of identity.
Even though the vote was won resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
He further claimed that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating Grexit.
This account of events has provoked fury and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
