Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras does not hold back while he reflects on that turbulent era of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, in reality, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives that involved advancing his books and experimenting with his game theories using the nation instead of truly advocating its economic stability.
Tsipras wrote that the talks to prevent bankruptcy became “not just a way of achieving improved terms for the country. They were a test, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's future but also the harsh cutbacks demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move that plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that 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 publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
