In a newly released memoir, called Ithaki, the ex- leader Tsipras does not hold back as he examines that chaotic era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, he selected that maverick academic Yanis Varoufakis to be the treasury head mainly because of the latter's international reputation along with his very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief had a personal agenda that involved advancing Varoufakis's publications as well as experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
He explained that those talks to prevent insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both Greece's destiny but also those punishing austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result then agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
He further wrote how Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
