In a freshly published autobiography, named Ithaki, the former prime minister Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head primarily due to his international reputation and his highly compelling abilities when it came to public orator.
“He was, in reality, more of a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had his own agenda that involved advancing his books as well as experimenting with his own game theories on the nation instead of truly advocating the country's financial survival.
Tsipras wrote how those discussions to prevent bankruptcy became “not just a way of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, the country came perilously close to leaving the eurozone.
On the line was not only the country's future and those punishing austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, a move which threw Europe into a further crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and agree to a rescue deal from creditors which proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
