In a freshly published memoir, titled Ithaki, the ex- leader Tsipras pulls no punches while he examines that turbulent era of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the treasury head mainly because of the latter's global profile along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own agenda which included promoting his publications and experimenting with his game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras explained that those discussions to prevent insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to exiting the eurozone.
On the line lay not only the country's future and those severe austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal from creditors that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
He also wrote how his confrontational style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
The account of history has provoked anger along with shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
