In a recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the turbulent period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, Tsipras chose the unorthodox economist Yanis Varoufakis to be the finance minister mainly due to his worldwide fame and his “extremely attractive” abilities when it came to communicator.
“He was, actually, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed his own motives that involved promoting Varoufakis's books as well as testing out his own game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras explained how those discussions to prevent bankruptcy were “not just a way to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously close to exiting the eurozone.
At stake lay both the country's future but also the harsh austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes that his former ally had proved himself “unfit for a deal that required complex and sensitive handling.”
Tsipras also wrote how his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
The retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
