Within his freshly published autobiography, named Ithaki, the former leader Tsipras spares no criticism while he examines that chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, he chose the maverick economist Yanis Varoufakis to be his finance minister primarily because of his worldwide fame along with his “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal agenda that included promoting Varoufakis's books and testing out his game theories on Greece rather than genuinely fighting for its economic stability.
He wrote that those talks to prevent insolvency were “not just a way of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously close to leaving the single currency area.
At stake lay not only Greece's future but also the severe austerity measures demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were subjected to a public vote, a move which plunged the EU into a deeper existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and agree to a bailout package with creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
