Within his freshly published autobiography, named Ithaki, the former premier Tsipras pulls no punches while he examines the turbulent period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he chose the unorthodox academic Yanis Varoufakis as the treasury head largely due to the latter's global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a star rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had his own motives that involved promoting his publications and experimenting with his own theories on the nation instead of genuinely fighting for its financial survival.
He noted that the talks to prevent insolvency were “not only a method to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake lay not only the country's destiny but also those harsh austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, an action which plunged the EU into a further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras further wrote that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This retelling of history has provoked anger and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
