Within his recently unveiled memoir, titled Ithaki, the former premier Tsipras pulls no punches while he revisits the turbulent era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head primarily due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“He was, actually, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives which included advancing his books as well as experimenting with his game theories on Greece rather than genuinely advocating its economic stability.
He explained that the talks to stave off insolvency became “not just a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
During tense negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake was both Greece's future but also the severe cutbacks required in return for bailout funds from international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were subjected to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package with creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
