Within his recently unveiled autobiography, named Ithaki, the former prime minister Tsipras does not hold back as he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head largely due to the latter's worldwide fame and his very persuasive skills as a communicator.
“He was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda which included advancing Varoufakis's books as well as testing out his game theories using Greece instead of truly fighting for the country's economic stability.
He noted how those negotiations to prevent insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came perilously close to exiting the eurozone.
On the line was both Greece's future but also those punishing austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which plunged Europe into deeper existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal that required intricate and delicate management.”
He further wrote how his confrontational approach left him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
