In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism while he examines that chaotic period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he chose that unorthodox academic Yanis Varoufakis to be his finance minister mainly due to the latter's global profile and his very persuasive abilities when it came to communicator.
“He was, in reality, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives that included promoting Varoufakis's books and experimenting with his own game theories on Greece rather than genuinely advocating its economic stability.
He noted that the discussions to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During tense negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line was both the country's destiny and the severe cutbacks required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a public vote, an action which threw Europe into deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
He further wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
