In a newly released memoir, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, Tsipras appointed that unorthodox economist Yanis Varoufakis to be his treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief had a personal agenda which involved promoting his publications and testing out his theories on Greece instead of truly fighting for the country's economic stability.
He explained that the discussions to prevent bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, a monumental chance to prove the validity of his economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was both the country's future and the punishing austerity measures required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were put to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Although the vote was carried decisively by those who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
He also claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and helped hawks that were advocating Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
