Within his freshly published autobiography, called Ithaki, the ex- leader Tsipras does not hold back as he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he selected that maverick economist Yanis Varoufakis as his treasury head mainly because of the latter's worldwide fame and his very persuasive skills when it came to public orator.
“He was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own agenda which included promoting his publications and experimenting with his own game theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras noted that those talks to avoid bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country came perilously close to leaving the single currency area.
At stake was both the country's destiny but also those severe austerity measures required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a public vote, a move that plunged the EU into further existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
He also claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
