Within his freshly published autobiography, called Ithaki, the ex- leader Tsipras does not hold back while he examines the turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose the maverick academic Yanis Varoufakis to be the treasury head primarily because of his international reputation and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, in reality, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis had his own motives that involved promoting Varoufakis's publications and testing out his own economic models using the nation instead of truly advocating its financial survival.
He explained how those negotiations to avoid insolvency were “not just a way to secure a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Talks
Amid tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also those severe austerity policies required in return for bailout funds from international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action which threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of history has been met with anger and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
