In a recently unveiled memoir, called Ithaki, the ex- premier Tsipras does not hold back as he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he chose the unorthodox academic Yanis Varoufakis as his treasury head largely due to his international reputation and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed his own motives that included promoting his books as well as experimenting with his own game theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras explained how the negotiations to avoid insolvency became “not only a way to secure improved terms for Greece. They became a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
During tense discussions, the country came dangerously close to exiting the single currency area.
At stake was both the country's destiny and those severe cutbacks required in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, an action which threw the EU into a further crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option to ignore the result then agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
He further claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of history has provoked anger and shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
