In a freshly published memoir, named Ithaki, the ex- leader Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head largely due to his international reputation and his very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed his own motives which involved promoting his publications and testing out his own economic models using Greece rather than truly fighting for the country's economic stability.
He noted how those negotiations to avoid bankruptcy became “not only a way to secure improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake was not only the country's future and the severe austerity policies demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action which threw the EU into deeper existential crisis.
Although the referendum was carried resoundingly by those against austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He further claimed that his aggressive style left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
