Within his recently unveiled personal account, titled Ithaki, the former leader Tsipras does not hold back as he reflects on the turbulent period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he chose the maverick academic Yanis Varoufakis as the treasury head largely due to his global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own agenda which included promoting Varoufakis's publications as well as experimenting with his game theories on Greece instead of genuinely fighting for the country's financial survival.
Tsipras explained that those discussions to avoid bankruptcy were “not only a method to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously close to exiting the single currency area.
At stake was not only the country's future and those punishing cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action that plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
