Within his newly released memoir, titled Ithaki, the former prime minister Tsipras spares no criticism as he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis as his treasury head largely due to his global profile along with his very persuasive abilities when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives that included advancing Varoufakis's publications and testing out his own theories on Greece instead of genuinely fighting for its financial survival.
Tsipras wrote how the talks to prevent insolvency were “not only a method to secure a better deal for the country. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself perilously close to leaving the single currency area.
On the line lay not only Greece's future but also the punishing austerity measures required in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the vote was won decisively by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader knew it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed that his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
