Within his newly released memoir, named Ithaki, the former leader Tsipras pulls no punches as he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, Tsipras chose that maverick academic Yanis Varoufakis to be his treasury head primarily due to his global profile and Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal agenda that involved promoting Varoufakis's books and testing out his own game theories on the nation instead of truly fighting for the country's economic stability.
He wrote how those talks to stave off insolvency were “not only a method to secure a better deal for the country. They were a test, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
On the line was both Greece's future and those severe cutbacks required in return for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action which plunged the EU into further crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
