In a recently unveiled memoir, called Ithaki, the former leader Tsipras pulls no punches while he reflects on that chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras selected the maverick economist Yanis Varoufakis to be the finance minister mainly due to his worldwide fame and his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges how his finance chief had a personal agenda that involved promoting Varoufakis's publications and testing out his own game theories on the nation rather than genuinely advocating its economic stability.
Tsipras wrote that those negotiations to avoid insolvency were “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both the country's future but also those harsh cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome and agree to a rescue deal with creditors that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He further wrote that his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This account of events has been met with fury along with shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
