In a freshly published autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras chose that unorthodox academic Yanis Varoufakis as the finance minister mainly due to the latter's worldwide fame and his very persuasive skills as a public orator.
“He was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis had a personal motives which included advancing Varoufakis's publications as well as experimenting with his own theories on the nation instead of genuinely fighting for the country's financial survival.
He explained that the negotiations to prevent insolvency were “not just a way to secure a better deal for Greece. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's future but also the punishing austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
