Within his newly released memoir, named Ithaki, the former leader Tsipras does not hold back while he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras selected that unorthodox academic Yanis Varoufakis as his treasury head mainly due to his worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief had his own motives which involved advancing Varoufakis's publications as well as testing out his economic models using Greece instead of genuinely fighting for its economic stability.
Tsipras explained that the negotiations to avoid insolvency became “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake was not only the country's future and the severe austerity policies required in return for financial aid by international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive conditions were subjected to a public vote, an action which plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result and agree to a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked fury along with shock in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
