Within his recently unveiled memoir, named Ithaki, the former premier Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, he chose the maverick academic Yanis Varoufakis to be the finance minister primarily because of the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed a personal motives which included promoting Varoufakis's publications and experimenting with his own game theories on the nation instead of genuinely fighting for its financial survival.
Tsipras explained how the talks to avoid bankruptcy became “not just a way to secure improved terms for the country. They were a test, an historic chance to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was not only Greece's destiny but also those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive conditions were subjected to a public vote, a move that threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
He also claimed how his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and shock in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
