Within his freshly published autobiography, called Ithaki, the former premier Tsipras does not hold back while he examines that turbulent period of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, he chose that maverick academic Yanis Varoufakis as the treasury head mainly due to the latter's international reputation and his very persuasive skills when it came to communicator.
“He was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal motives which included advancing Varoufakis's publications as well as testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted that those talks to stave off insolvency were “not just a way to secure a better deal for the country. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came perilously close to leaving the eurozone.
At stake lay both the country's future and those punishing austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote that his confrontational approach made him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
