Within his freshly published memoir, called Ithaki, the ex- premier Tsipras does not hold back while he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he chose the maverick economist Yanis Varoufakis as his treasury head mainly because of the latter's global profile and Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more of a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed a personal agenda which involved advancing his books and experimenting with his own game theories using the nation rather than truly fighting for its economic stability.
Tsipras explained that those talks to avoid insolvency became “not only a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, Greece found itself perilously close to leaving the single currency area.
On the line was both the country's future but also the punishing cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as 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, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged Europe into further existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
The account of history has been met with anger and shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
