Within his newly released personal account, titled Ithaki, the former prime minister Tsipras pulls no punches as he reflects on that chaotic era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, he selected that maverick academic Yanis Varoufakis to be his treasury head largely because of his worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief possessed his own agenda which involved advancing Varoufakis's publications as well as experimenting with his game theories using the nation rather than genuinely advocating its financial survival.
Tsipras explained how the talks to prevent insolvency became “not only a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During volatile negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line was both the country's destiny and the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Options
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the vote was carried decisively by those against austerity, Tsipras was forced to reject its outcome then negotiate a bailout package with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts how his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras also wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with fury and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
