In a freshly published memoir, titled Ithaki, the former leader Tsipras does not hold back while he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's version, Tsipras chose that maverick economist Yanis Varoufakis to be the finance minister primarily due to the latter's global profile along with his very persuasive skills as a public orator.
“He was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed his own agenda which involved advancing Varoufakis's books as well as experimenting with his own game theories using the nation instead of truly fighting for the country's economic stability.
He explained how the negotiations to stave off bankruptcy were “not just a method to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake was both the country's destiny and those punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, a move that threw the EU into deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
