In a recently unveiled autobiography, called Ithaki, the ex- leader Tsipras does not hold back as he reflects on that chaotic period during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis as the treasury head mainly because of his global profile and his “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his own game theories on Greece rather than truly fighting for the country's financial survival.
He noted that those discussions to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously close to leaving the eurozone.
On the line lay not only the country's future but also those severe austerity measures demanded in return for financial aid by international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras further wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
