In a newly released memoir, called Ithaki, the ex- premier Tsipras spares no criticism as he reflects on that turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he selected the maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's international reputation and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved advancing his publications and testing out his own economic models on Greece instead of truly advocating the country's economic stability.
Tsipras wrote how the discussions to prevent insolvency became “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both the country's destiny but also the punishing cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras had little option to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal that required intricate and delicate management.”
Tsipras also claimed how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
The retelling of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
