Within his freshly published personal account, called Ithaki, the ex- premier Tsipras does not hold back while he revisits that turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, he appointed that maverick academic Yanis Varoufakis as his treasury head largely due to the latter's worldwide fame and his very persuasive skills as a speaker.
“He was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal motives which included advancing Varoufakis's books and experimenting with his game theories on Greece instead of genuinely fighting for the country's financial survival.
He explained how the discussions to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, the country found itself perilously close to leaving the eurozone.
On the line lay both the country's destiny and those punishing austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package with creditors which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
